Dredging Corporation of India pays dividend Cheque of Rs.13.19 Crore to the Government

The Union Minister of Shipping, Road Transport and Highways, Thiru T.R. Baalu received a demand draft for Rs. 13,19,86,200/- towards interim dividend for 2006-07 from the Chairman and Managing Director of the Dredging Corporation of India Ltd., Shri K.R. Kishore here today.

The Board of Directors of the Company declared an interim dividend of 60 per cent for the year 2006-07 on the paid-up capital of the Company involving an amount of Rs. 16.80 crore. Of this, an amount of Rs. 13.19 crore is payable to President of India as interim dividend for the year 2006-07.

Established in 1976 to provide integrated dredging services to the Major Ports of the country, DCI is a Mini Ratna category-1 Public Sector Undertaking under the administrative control of the Ministry of Shipping Road Transport & Highways. It has a paid up capital of Rs. 28 crore divided into 2,80,00,000 equity shares of Rs. 10 each of which 78.56 per cent shares are Government owned.

Source : Press Information Bureau

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