Centre receives Rs 56 cr as dividend from National Fertilizers

A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.

The central government has received about Rs 56 crore from its company National Fertilizers Ltd as a dividend tranche. A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.

"Government has received about Rs 56 crore from National Fertilizers Ltd. as dividend tranche," the secretary of the Department of Investment and Public Asset Management wrote on Twitter. The state-owned company, having its registered office in New Delhi, was incorporated in August 1974.

According to data available on the Ministry of Chemicals and Fertilizers website, the central government holds 74.71 per cent of shares and the rest 25.29 per cent by "financial institutions and others". The company is engaged in manufacturing of ammonia-based industrial products - Nitric Acid, Ammonium Nitrate, Sodium Nitrate, and Nitrite.

It has five gas-based Urea manufacturing plants with an annual installed capacity of 35.68 lakh tonne. (ANI)