November 12, 2001
‘18’MOIL PAYS 27 PER CENT DIVIDEND FOR 2000-2001
Manganese Ore (India) Ltd. (MOIL), a public sector enterprise of the Ministry of Steel, has declared 27 per cent dividend for the year 2000-2001. The Company had been paying 20 per cent dividend to its shareholders for last 8 years. Considering the highest profits, it declared a higher dividend of 27 per cent for 2000-2001. Union Minister for Steel Shri B.K.Tripathy received here today the dividend cheque for Rs.3.37 crore from Shri D.K.Sahni, Chairman-cum-Managing Director, MOIL. Shri N.N.Khanna, Secretary (Steel) and senior officials of the Ministry were present on the occasion.
With a moderate capital of Rs.15crore, MOIL has achieved outstanding results during the year 2000-2001. During the year the turnover and profit before tax were Rs.165.22 crore and Rs.30.99 crore respectively.
Apart from the payment of the above dividend to the Central Government, the company is paying Rs.39.80 lakh to the Government of Maharashtra and Rs.36.46 lakh to the Government of Madhya Pradesh, who are also shareholders of the Company.