CUDDALORE: Chairman-cum-Managing Director of Neyveli Lignite Corporation A.R.Ansari handed over the final dividend of Rs. 156.96 crore for the financial year 2009-10 to Union Minister of State for Coal Sriprakash Jaiswal in New Delhi on September 14.
Secretary to the Coal Ministry C. Balakrishnan and NLC director (finance) K.Sekar were present on the occasion. A statement from the NLC said that earlier a sum of Rs. 156.96 crore towards interim dividend of 10 per cent for the Centre was handed over to Mr. Jaiswal when he visited Neyveli on April 6, 2010 to dedicate Mine-II expansion project to the nation.
Shareholders were paid a dividend of 20 per cent on the paid up equity share capital of the company for the year 2009-10. At the 54th annual general meeting held on September 2, the company declared a final dividend of 10 per cent in addition to the interim dividend of 10 per cent paid in March 2010.
Hence, the total dividend payout, including distribution tax, amounted to Rs 391.91 crore that worked out to 31.42 per cent on profit after tax (PAT). As for the financial performance, the statement noted that the NLC had registered the highest sales turnover (since inception) of Rs. 4,121.03 crore.
Profit before tax (PBT) was Rs. 1,604.86 crore and profit after tax (PAT) was Rs. 1,247.46 crore. During 2009-10, the NLC achieved the highest ever performance in overburden removal, lignite production, and, generation and export of power.
Total overburden removal for the period was 1,594.25 lakh cubic metres, aggregate lignite production – 223.38 lakh tonnes, total power generation – 17,656.04 million units (gross) and export of power – 14,828.22 million units.
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