Nalco declares 60% dividend, amounting to Rs 387 crore

The National Aluminium Co Ltd (Nalco) on Saturday declared 60 % dividend for 2007-08. The total dividend payout will be Rs 386.59 crore (including an interim of 45% paid in February) on paid-up equity capital of Rs 644.31 crore. At Nalco's 27th annual general meeting, which was held here on Saturday, shareholders approved the dividend payout proposal and annual accounts of 2007-08. The company registered a sales turnover of Rs 5576 crore, a net profit of Rs 1632 crore and export earnings of Rs 2135 crore during the fiscal. In 2007-08, Nalco achieved 104.48% capacity utilisation of its smelter at Angul with a production of 360,457 tonne of aluminium cast metal (358,734 tonne in 2006-07). Similarly, the alumina refinery at Damanjodi reported 100.04% capacity utilisation with a production of 15,75,500 tonne of alumina hydrate (14,75,200 tonne the previous year). Bauxite production increased to 46,84,684 tonne from 46,23,278 tonne the previous year. The company's 960-mw captive plant, near the smelter plant, recorded a lower power generation of 5609 million units (5968 million units the previous year), mainly owing to coal shortage. ---financialexpress