February 7, 2002
'16'
STC PRESENTS DIVIDEND CHEQUE OF Rs.5.46 CRORE TO MARAN
STC RECORDS A GROWTH OF 25 PER CENT TURNOVER
STC Ltd., has presented a dividend cheque of Rs.5.46 crore for the year 2000-2001 to Shri Murasoli Maran, Union Minister of Commerce and Industry, here today. Shri S.M. Dewan, Chairman & Managing Director of STC presented the cheque towards dividend at 20 per cent on the paid up capital.
The Corporation recorded a turnover of Rs.1040 crore, which included competitive turnover of Rs.978 crore – a growth of 25 per cent for the corresponding period of last year. STC recorded a profit of Rs.3 crore during the year 2000-2001. The Corporation is forecasting a turnover of Rs.1637 crore for the year 2001-2002 and the profit is being projected at Rs.8.5 crore, which is three times higher than that of last year.
STC has also finalised a plan of capital restructuring, under which 30 per cent of its equity will be cancelled and every shareholder having 100 share will be paid Rs.1465. The Union Government will get a sum of Rs.40 crore excluding dividend tax of about Rs.4.5 crore.