Rites pays Rs.33 Crore as interim dividend for the year 2006-07

The Managing Director, RITES Ltd., Shri V.K.Agarwal presented a cheque of Rs.33 crore as interim dividend for the year 2006-07 to the Minister of Railways, Shri Lalu Prasad here today. This amount is 825% of the paid-up capital of the Company as against total dividend pay out of Rs.20 crore (500% of the paid up capital) for the year 2005-06.

RITES Ltd., a Mini-Ratna Government of India Enterprise under the Ministry of Railways, has been excelling n its performance since its inception in 1974. Recently, RITES was awarded "SCOPE Award for Excellence and outstanding contribution to the Public Sector Management" for the year 2005-06. The award was received by Shri V.K.Agarwal, Managing Director (RITES) from the Prime Minister, Dr. Manmohan Singh at a conference of Chief Executives of Central Public Sector Enterprises held here on 8th March, 2007.

RITES was adjudicated by a pre-eminent jury led by Justice P.N.Bhagwati. Other members of jury included Dr.Abid Hussain, Shri Moosa Raja, Dr.Arjun Sengupta, Shri Hiten Bhaya and Dr.S.M.Dewan.

The criteria for evaluation of performance of enterprises were business results of the company, leadership policy and strategy, customer satisfaction management, customer value management, corporate governance practices, operations management, HRD and employee contribution, new product development and quality management, environmental management systems, corporate social responsibility and corporate image.

The Company since its inception has been constantly making profits and paying dividend.

Source : Press Information Bureau

Keywords