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Dredging Corporation declares 20pct dividend for 2017-18

Logistic News - Published on Mon, 03 Sep 2018

Image Source: The Hans India
The Dredging Corporation of India Ltd (DCIL) declared a 20 per cent dividend on the paid-up capital of INR 28 crore for 2017-18. A cheque of INR 4,11,44,026 (INR 4.11 crore ) was handed over to Mr Nitin Gadkari, Minister of Shipping, Road Transport and Highways, by Mr Rajesh Tripathi, CMD, DCI, in the presence of senior officials of the Ministry of Shipping in New Delhi. At its 42nd Annual General Meeting held earlier this month, DCI declared a dividend of INR 2 per equity share of INR 10 each, amounting to Rs 5.6 crore for 2017-18. The government of India holds 73.47 per cent of the share capital in the company. The amount of INR 4.11 crore is the dividend pertaining to this share.

The company earned a profit of INR 1,664.27 lakh after tax for the year as compared to INR 712.26 lakh for the previous year. The operational income was INR 59,187.36 lakh as compared to INR 58,514.77 lakh for the previous year. Total income for the year was INR 61,211.90 lakh as compared to INR 59,896.55 lakh for the previous year. The earning per share for 2017-18 increased to INR 5.94 as compared to INR 2.54 for the previous year.

DCIL has been dredging at Haldia Port for the past thirty years. The company also caters to the maintenance dredging requirements of other Major Ports/Indian Navy, etc.

During the year, maintenance dredging contracts were executed for Kolkata Port, Cochin Port, Cochin Shipyard, RGPPL-Dabhol, Gangavaram, Mumbai Port, and New Sand Trap and its approaches at Visakhapatnam Port. Capital dredging contracts were executed at Paradip Port, Bangladesh, Andaman and Nicobar Islands, Puducherry, Gogha and Dahej.

For its CSR initiatives, the company spent INR 109.42 lakh, taking up projects for constructing toilets in public places and government schools, and providing RO plants in government schools, the release added.

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Posted By : Joykumar Irom on Mon, 03 Sep 2018
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