The Hindu Business Line : STC pays 40% final dividend to Govt

The State Trading Corporation (STC) on Tuesday has disbursed a final dividend of 40 per cent for 2006-07 to the Union Government, over and above an interim dividend of 20 per cent already paid for the last fiscal, taking the total annual dividend payment to a record 60 per cent. An official release issued here said that the dividend cheque of Rs 10.92 crore was handed over by the Corporation’s Chairman and Managing Director, Dr Arvind Pandalai, to the Union Commerce and Industry Minister, Mr Kamal Nath, at the latter’s office here on Tuesday. Speaking on the occasion, Mr Pandalai said the corporation reached an all-time high turnover of Rs 14,300 crore during the fiscal 2006-07 and the highest ever net profit of Rs 88 crore through improved customer delivery mechanism that enabled the company to undertake higher volumes of trade and realise better margins.

– Our Bureau

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