ITDC pays govt Rs 3.95 cr dividend
26 Oct 2012 2:49 AM GMT
India Tourism Development Corporation (ITDC), the public sector undertaking under the aegis of the Ministry of Tourism, has paid a Dividend of Rs 3.95 crore to the Union Ministry of Tourism for the financial year 2011 – 2012.
At the 47th Annual General Meeting of the Corporation, the Dividend at the rate of 5 per cent (that is Rs 4.28 crore) was approved. The Corporation could not distribute Dividend to its shareholders during the past two years due to operational losses during 2009-10 and 2010-11. As during the year 2011-12, there has been a profit; a Dividend of RS 3.95 crore is being paid to the Ministry of Tourism and Rs 0.33 crore for distribution to other shareholders of the Corporation.
The cheque for an amount of Rs 3.95 crore was presented to Minister of Tourism Subodh Kant Sahai by Lalit K. Panwar, vice chairman & managing director, ITDC.
At the 47th Annual General Meeting of the Corporation, the Dividend at the rate of 5 per cent (that is Rs 4.28 crore) was approved. The Corporation could not distribute Dividend to its shareholders during the past two years due to operational losses during 2009-10 and 2010-11. As during the year 2011-12, there has been a profit; a Dividend of RS 3.95 crore is being paid to the Ministry of Tourism and Rs 0.33 crore for distribution to other shareholders of the Corporation.
The cheque for an amount of Rs 3.95 crore was presented to Minister of Tourism Subodh Kant Sahai by Lalit K. Panwar, vice chairman & managing director, ITDC.
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