The Hindu Business Line : NMDC to pay 114.5 pc

HYDERABAD: The board of directors of National Mineral Development Corporation Ltd (NMDC), which met here, has recommended a total dividend of 114.5 per cent for the financial year ended March 31, 2005.

Of this, 38.5 per cent has already been paid as interim dividend. The balance 76 per cent would be paid after approval by the General Body of the Company, according to a press release.

The public sector, NMDC's profit before tax during the year has doubled in comparison with the previous year. The company had achieved a turnover of Rs 1,454 crore and net profit of Rs 433 crore during the financial year 2003-04. It had declared an interim dividend of 35 per cent for the fiscal 2004-05.

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