Nalco okays 35 per cent dividend for fiscal 2015
Bhubaneshwar: The shareholders of Nalco, a Navratna public sector unit, has approved a 35 per cent dividend, which works out to Rs 1.75 per share. Sharing details with the media about the performance of the company after its AGM held here on Saturday, Nalco chairman and managing director T.K Chand said the company had registered a net profit of Rs 1,322 crore in 2014-15, 17 per cent higher than the previous fiscal.
With regard to the future plans of the PSU, he said it planned to invest Rs 35,000 crore for setting up the second refinery unit at Damonjodi in Koraput district and a smelter unit in Sundergarh district of Odisha. To query on setting up refinery and smelter units overseas, he said a consultancy firm engaged to scout for possible countries had suggested names of Iran, Oman and Indonesia.