National Aluminium Company Limited (NALCO) declared a final dividend of 20% i.e. Rs 1 per equity share, during the 40th Annual General Meeting (AGM) of the Navaratna Central Public Sector Enterprises, held at Bhubaneswar.
The total dividend payout for the financial year 2020-21 comes to Rs 644.27 crore, as against Rs 279.84 crore paid during the previous financial year 2019-20.
Addressing the shareholders on the occasion through the virtual platform, Sridhar Patra, CMD, NALCO, said that “NALCO has not only addressed the need for self-sufficiency in aluminium but has also given the country a technological edge in producing this metal of the future at par with global standards”.
“In spite of the turbulent environment, coupled with volatile nature of LME prices and subdued demand for the metal, we have made steady progress by focusing on the 5P’s – production, productivity, people, projects and profit.
Although LME was at rock bottom in Q1; planned initiatives, along with effective procurement strategies led to a landslide improvement in the bottom-line of the company,” he said.
Sharing the future plans of the company, he said that the focus is on early commissioning of the expansion activities.
“With steady progress on the ongoing expansion activities, we are optimistic for commissioning of the proposed one million tonnes per annum 5th Stream of Alumina Refinery expansion by 2023-24”, stated the CMD.