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Akzo Nobel India Ltd reported a net profit of Rs 202 crore in 2015-16, up 8 per cent from Rs 186 crore recorded in 2014-15. The company board on Friday recommended a dividend of Rs 20 per share for the year ended March 31, 2016. The company paid Rs 20 dividend in 2014-15 also.
In addition, the board has also recommended a special dividend of Rs 50 per share. The dividend will be paid after the approval of the shareholders at the forthcoming Annual General Meeting.
In the fourth quarter, the PAT of the company was 18 per cent at Rs 45 crore. Jayakumar Krishnaswamy, MD, Akzo Nobel said the fourth quarter was the strongest one in a challenging environment.
“We saw growth momentum picking up in the latter half of the year,” he observed.
On Friday, Akzo Nobel stock closed at Rs 1,364.10, down 0.29 per cent on the BSE.
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