Press Information Bureau

Government of India

Ministry of Coal

26-October-2012 14:36 IST

Neyveli Lignite Corporation Limited (NLC) has presented dividend of Rs. 439.49 Crore to the Government for the Financial year 2011-12 . The dividend check was presented to Shri Sriprakash Jaiswal, Minister of Coal, by Shri B. Surender Mohan, Chairman-cum- Managing Director, NLC here today. Shri S.K.Srivastava , Secretary, Ministry of Coal, and other senior officials of the Coal Ministry were also present on the occasion.

NLC has declared a dividend at the rate of 28.00 % for the financial year 2011-12. The total dividend payout (including distribution tax) amounts to Rs. 545.97 Crore.

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NCJ/RV

Dividend declaration by a state-owned company delivers payout to the government under the declared rate and distribution tax. Neyveli Lignite Corporation Limited declared a dividend at the rate of 28.00% for the 2011-12 financial year and presented the dividend cheque to the Government; the total dividend payout including distribution tax equalled the stated aggregate amount, constituting the corporate distribution to the sovereign shareholder and its formal receipt in the presence of senior ministry officials.