“The Board of Directors of the Company at its meeting held on 11th March 2021, inter alia, declared interim dividend at the rate of Rs.7.76 (Rupees Seven and Seventy-Six Poise Only) per equity share of the face value of Re. 1 /- each for the financial year 2020-21,” the company said in a BSE Filing.
The interim dividend shall be paid as per the provisions of the Companies Act, 2013.
This comes at a time when the country is facing an acute shortage of iron ore due to reduced production from mining companies in Odisha and logistical issues due to the pandemic-led lockdown. The prices of iron ore globally surged to a nearly 10-year high and went up by around 63 per cent in India.
NMDC had been rising prices consecutively for the past 3 quarters and has left the prices of lump ore Rs 5,100 per tonne and Rs 4,210 per tonne for fines in its latest price revision, which is unchanged since its last revision.
However, the company has increased production for the month of February 2021 which stands at 3.86 MT as against the 3.24 MT of ore mined in the corresponding month in February 2020 and registered a growth of 19 per cent over the same.
India’s largest iron ore producing company reported a 53 per cent jump in net profit at Rs 2,109 crore during the December quarter of FY 21 as against a profit of Rs 1,376 crore during the same period last year.
