Nalco gets generous
By
Ruma Dubey
about 6 years ago
With volumes surging to almost 1.5 times, Nalco is in the news today. The stock price remained largely range bound between Rs.44 and Rs.46 levels. Its UC is at 10% at Rs.48.95.
The company shot into prominence after the PSU announced a record, its highest ever dividend payout at 115% for FY19, amounting to Rs.1073 crore. It had declared a 114% dividend in FY18.
This works out to Rs.5.75 per equity share of Rs.5 each.
The Govt has a 52% stake, which is 97,00,81,517 shares and that means, it will have a cool take home of Rs.558 crore.
Dividend including the applicable dividend distribution tax works out to a payout of 74.65% of the PAT against 98.81%. of FY18.