The dividend announcement will fetch the government Rs 94.17 crore as it holds 51.28 percent stake in the company, as per its latest shareholding pattern. The total outstanding shares in this stake is 94.17 crore.
According to the recently released Public Enterprises Survey 2021-22, the total dividends declared by operating CPSEs in financial year 2021-22 stood at Rs 1.15 lakh crore, up 57.58 percent, compared to Rs 73 thousand crore in financial year 2020-2021.
In December 2022, the government received about Rs 6,113 crore and Rs 25 crore from Coal India Ltd. and MSTC respectively as dividend tranches, according to the Department of Investment and Public Asset Management (DIPAM).
In November last year, the government also received nearly Rs 5,001 as dividend tranches from ONGC.
According to the existing guidelines, Central PSUs are required to pay a minimum annual dividend of 30 percent of profit after tax (PAT) or 5 percent of net worth, whichever is higher.
Shares of Nalco ended 0.8 percent higher at Rs 84.35. In the past one month the stock has gained over 9 percent while in the three-month period the shares have given a return of 23 percent.
