Steel Authority of India (SAIL), a Maharatna PSU under the Ministry of Steel, has paid Rs 495.65 crore as an interim dividend to the Government of India. The interim dividend cheque was paid at 12% of paid up equity capital, for the year 2011-12. The Union Minister for Steel, Shri Beni Prasad Verma presented an interim dividend cheque to the Prime Minister of India, Dr. Manmohan Singh on April 03, 2012.
Since, Government of India holds 85.82% stake in the company’s total paid up equity capital of Rs 4,130.53 crore, the payment of interim dividend to Government of India was Rs 425.36 crore.
SAIL has made total dividend pay-outs of Rs 9,392 crore equivalent to 228% of its paid up capital. Out of this, payment to Government of India is Rs 8,092 crore, besides dividend tax of Rs 1,342 crore. SAIL achieved a turnover of Rs 35,556 crore ( 5% higher than the sales in the corresponding period of last year) and earned profit after tax of Rs 1,966 crore during April-December,2011.
