State-run Steel Authority of India ( SAIL) paid Rs425.36 crore as interim dividend to the government for its 85.82% holding in the steel maker.
' SAIL paid an interim dividend to the Government of India amounting to Rs425.36 crore. The total interim dividend paid by SAIL comes to Rs495.65 crore for the year 2011-12,' the company said in a release.
SAIL Chairman C S Verma presented the dividend cheque to the Prime Minister Manmohan Singh in the presence of Steel Minister Beni Prasad Verma and Secretary D R S Chaudhary.
'In addition to interim dividend, the Board of Directors of the company would also recommend final dividend for the year, while approving the financial results,' it added.
Since inception, SAIL has paid Rs9,392 crore dividend, including Rs8,092 crore to the government, besides Rs1,342 crore dividend tax.
SAIL, in which the government plans to sell 10% of its stake through a follow-on public offer, is investing Rs72,000 crore to raise its hot metal capacity from 14.6 million tonne per year (mtpa) to 23.4 mtpa.
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' SAIL paid an interim dividend to the Government of India amounting to Rs425.36 crore. The total interim dividend paid by SAIL comes to Rs495.65 crore for the year 2011-12,' the company said in a release.
SAIL Chairman C S Verma presented the dividend cheque to the Prime Minister Manmohan Singh in the presence of Steel Minister Beni Prasad Verma and Secretary D R S Chaudhary.
'In addition to interim dividend, the Board of Directors of the company would also recommend final dividend for the year, while approving the financial results,' it added.
Since inception, SAIL has paid Rs9,392 crore dividend, including Rs8,092 crore to the government, besides Rs1,342 crore dividend tax.
SAIL, in which the government plans to sell 10% of its stake through a follow-on public offer, is investing Rs72,000 crore to raise its hot metal capacity from 14.6 million tonne per year (mtpa) to 23.4 mtpa.
....more info