National Aluminium Company Limited (NALCO) declared a final dividend of 20% i.e. ₹ 1 per equity share, during the 40th Annual General Meeting (AGM) of the Navaratna CPSE, held today at Bhubaneswar. The total dividend pay-out for financial year 2020-21 comes to ₹ 644.27 crore, as against ₹ 279.84 crore declared and 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 as one of the leading CPSE of the country has come a long way in the service of the Nation and powering India’s Mineral Security. The company 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.
Despite the outbreak of COVID-19 pandemic with challenging business environment, the year 2020-21 for NALCO has been a year of accomplishments. “In spite of turbulent environment, coupled with volatile nature of LME prices and subdued demand for 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; but with planned initiatives, along with effective procurement strategies led to a landslide improvement in the bottom-line of the company,” he said.
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