BHUBANESWAR, MAR 13 : India's leading manufacturer and exporter of alumina and aluminium, Nalco Ltd has announced 15% second interim dividend on a total paid-up capital of Rs 644.31 crore for the fiscal 2006-07.
Earlier, the company had paid an interim dividend of 35% last month. Together, the pay-out works out to Rs 322.15 crore as 50% interim dividend.
During 2004-05 and 2005-06, the company had paid 40% and 50% dividend, respectively, on the same paid-up capital.
Meanwhile, the Nalco has signed a memorandum of understanding (MoU) with the Union ministry of mines for 2007-08.
Over the years, the company has been receiving excellent rating from the ministry, including the last fiscal.
In the MoU, Nalco has projected more than 100% capacity utilisation of its aluminium smelter and alumina refinery. The company has also projected higher financial targets and commitments to ensure smooth completion of its Rs 4091-crore second phase expansion projects in time. Among other things, Nalco has also agreed to focus on completing the various aspects of the recently allotted Utkal–E coal block.
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