India: DCI Pays Dividend to Union Government

Dredging Corporation of India Limited (DCI) has paid Rs. 4.40 crore to the Union Government towards dividend for 2012-13.

The dividend cheque was handed over to Hon’ble Minister of Shipping, Thiru G.K.Vasan by Capt.D.K.Mohanty, CMD of the Company. Dr.Vishwapati Trivedi, IAS, Secretary (Shipping), Shri M.C.Jauhari, IAS, Joint Secretary (Shipping), Cmde.P.Jayapal, Director (Operations and Technical), DCI and other senior officials were also present.

The paid-up capital of the Company is Rs.28.00 crores divided into 2, 80,00,000 equity shares of Rs.10/- each of which 78.56% i.e. 2,19,97,700 shares are held by President of India.The year witnessed 31% growth in the operations of the company with the operational income increasing to Rs.634.91 crore as compared to Rs.484.69 crore for the previous year. The other income is Rs.31.03 crore as compared to Rs.12.92 crore for the previous year.

The Company achieved a total income of Rs.638.01 crore for the year 2012-13 as compared to Rs.497.61 crore for the previous year. The profit after tax increased to Rs.20.50 crore as compared to Rs.13.18 crore for the previous year i.e. a rise of 56%.

The Members of the company at the 37th Annual General Meeting held on 26th September, 2013, declared dividend @20% on the paid-up capital of the Company for the year 2012-13. The dividend payable would be 20% of Rs.28 Crore i.e., Rs.5.6 crore. Out of this an amount of Rs. 4,39,95,400/- is payable to President of India as dividend for the year 2012-13. Present on the occasion were Shri P.P.Govinda Chari, GM(F), DCI and K.Aswini Sreekanth, CS, DCI.

Press Release, October 24, 2013

 

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