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REC pays Rs 176.5-cr dividend to Govt

Our Bureau

New Delhi , Oct 19

RURAL Electrification Corporation (REC) declared a 30 per cent dividend amounting to Rs 234.5 crore for 2004-05. A cheque for Rs 176.5 crore was handed over by Mr A.K. Lakhina, Chairman and Managing Director, REC, to the Power Minister, Mr P.M. Sayeed, yesterday.

The company had recorded Rs 1,038 crore profit-before-tax. It had sanctioned loans worth Rs 16,316 crore and its disbursements stood at Rs 7,885 crore during 2004-05.

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