HYDERABAD: State-owned iron ore miner
NMDC
on Friday said its board has decided to offer an
interim dividend
at 776% for the year 2020-21 at its meeting held on March 11, 2021.
The interim dividend outgo would be to the tune of Rs 2,274 crore, of which Rs 1,553 crore would go to the
government
of India.
Commenting on the development, NMDC CMD Sumit Deb, said “I am pleased to announce that NMDC is growing at a fast pace and has set new production records in the last quarter. NMDC’s performance will help boost the country’s economy and we are confident of continuing the good work in the coming years as well.”
In the last 10 years, NMDC has paid about Rs 23,288 crore as dividend to its shareholders, of which the government’s share has been Rs18,536 crore.
In addition to the dividend, NMDC has also gone for buyback of shares in FY2021, amounting to Rs 1,378 crore, in which the government of India received Rs 1,377 crore.
Swati Rathor is a senior correspondent with The Times of India at...
Read MoreSwati Rathor is a senior correspondent with The Times of India at Hyderabad. She has over two years of experience covering a range of corporates and sectors. While not at work, she loves to travel, read and cook.
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