Comments
Steel Authority of India (SAIL) on Tuesday said, on behalf of the state-run firm, Steel Minister, Mr Beni Prasad Verma has handed over a Rs 425.36 crore dividend cheque to the Prime Minister Manmohan Singh yesterday.
“Along with Rs 80.74 crore as dividend tax, total payment by SAIL with respect to interim dividend to the government works out to Rs 506.10 crore,” SAIL said in a statement.
The company, in which government holds 85.82 per cent stake, made a total contribution of Rs 7,737 crore national exchequer in the first nine months of the current fiscal by way of excise and custom duties, corporate tax, sales tax and royalties, it said.
The SAIL Board would recommend its final dividend for the current fiscal while approving the financial results some time in the first quarter of FY12.
After obtaining shareholders’ approval in September, the final dividend would be paid to the government and other shareholders of the company.
SAIL achieved Rs 33,905 crore turnover in the first nine months of the current fiscal, up by 10 per cent over the same period last fiscal.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.