MOIL pays State Govt Rs 67.53 lakh dividend

MANGANESE ORE (India) Limited (MOIL) presented a cheque of Rs 67.53 lakh towards dividend to the Madhya Pradesh Government here on Friday.

MANGANESE ORE (India) Limited (MOIL) presented a cheque of Rs 67.53 lakh towards dividend to the Madhya Pradesh Government here on Friday.

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The cheque was presented to Chief Minister Shivraj Singh Chouhan by MOIL’s chairman-cum-managing director KL Mehrotra. A PSU, MOIL operates in three major manganese mines in Balaghat district. The State Government holds 8.82 per cent stake in the company.

MOIL declared 130 per cent dividend for the year 2005-06, out of which 80 per cent interim dividend had already been paid. The final dividend amounting to Rs 67.53 lakh was paid to the Government on Friday. Thus, total dividend paid to State Government during 2005-06 would be Rs 1 crore 75.59 lakh.

In addition to the dividend, the company has agreed to issue bonus shares to the stakeholders. The chairman of Madhya Pradesh Mineral Development Corporation Kok Singh Narvaria, Secretary, Mineral Resources Rakesh Agrawal and chief engineer of the company Alok Garg were also present on the occasion.