The Center will receive ₹ 1,553 crore as its share of the interim dividend declared by major NMDC Mining for the current financial year.
The state-owned company, whose board approved an interim dividend (7.76 per equity share (face value of 1 each)), said the outgo would be ₹ 2,274 crore with 3 1,553 crore centre’s share in the company. Holds a 69.65% stake.
In the last ten years, NMDC paid approximately ₹ 23,288 crore in dividends to its shareholders, with the Centre’s stake at around ₹ 18,536 crore. On Friday, the company said in a statement that it had gone for a share buyback in FY-21, amounting to ₹ 1,378 crore, which the government received, 1,377 crore.
CMD Sumit Deb said that NMDC is growing at a fast pace and setting new production records in the last quarter. Its performance will boost the economy of the country and “we are confident to continue the good work in the coming years.”
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