MTNL Pays interim dividend at 30 Per Cent

The Board of Directors of Mahanagar Telephone Nigam Limited (MTNL) has approved payment of interim dividend at the rate of 30 percent (Rs. 3 per share) on the paid up equity capital of Rs. 630 crore for the financial year 2006-07. MTNL will absorb an amount of 189 crore towards this announcement. Out of this, Rs. 106.31 crore is payable to the Government of India towards its shareholding in the company. Accordingly, the Chairman-cum-Managing Director of MTNL Shri R.S.P. Sinha presented an interim dividend cheque of Rs. 106.31 crore to Shri Dayanidhi Maran, Minister of Communications & Information Technology, here today.

On this occasion Shri Dayanidhi Maran has said that he was happy that MTNL had taken various initiatives for promoting broadband in the country. He hoped that in the ‘Year of Broadband’, more such initiatives would also be taken. He stated that he has directed the officials of the MTNL and BSNL to roll out plans for taking fibre to home which will provide "multiple" play instead of "triple play".

MTNL has paid dividend at 40 per cent on its equity capital of Rs. 630 crore last year. During the last six years, an aggregate amount of Rs. 1859 crore has been paid as dividend to all the shareholders including Rs. 1045 crore to the Government of India.

Source : Press Information Bureau

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