Kolkata: In a significant stride towards resource mobilisation, the state government has decided that all the profit-making state Public Sector Undertakings (PSU) in the state shall pay a minimum annual dividend at the rate of 30 per cent of Profit After Tax (PAT), subject to the maximum dividend permitted under the extant legal provisions.
A notification issued from the state Finance department has stated that “it may kindly be ensured that all the profit-making state PSUs, which include government companies, statutory corporations, joint venture corporations etc., under the control of respective administrative departments, declare dividends out of PAT without fail”.
The state government is entitled to receive dividends out of the profits on the basis of its majority of shareholding in the state PSUs. The dividend payout should fulfill the requirements of the government, as it would in the case of any prudent investor/owner. This is especially true as the government has to undertake various development activities and cater to public interests. Presently, there are 20-odd profit-making state PSUs in Bengal. “There are statutory provisions under the Companies Act 2013 and other Acts as applicable in this regard regarding payment of dividend,” said a Nabanna official. The Finance department has requested the concerned administrative departments to take immediate and necessary action in respect of the payment of dividends, including undeclared dividends from past years, due to non-finalisation of accounts by state PSUs.