Coromandel International maintains dividend
By IANSThursday, April 22, 2010
CHENNAI - The board of directors of fertilizer major Coromandel International Ltd. Thursday proposed a 200 percent final dividend (Rs.4 per share) for the year ending March 31, 2010.
With this the total dividend for the year, including the interim dividend declared earlier, is 500 percent (Rs.10 per share) which is similar to what the company declared the previous year but on a higher sales and profit figure.
The company closed the last fiscal with a total income of Rs.6,526.84 crore and an after tax profit of Rs.468.20 crore as against Rs.9,9667.80 crore and Rs.496.38 crore respectively earned during 2008-09.
According to the company, the lower turnover last fiscal was mainly due to the steep fall in the price of fertilizers and fertilizer raw materials resulting in lower subsidy.
During the period under review, Coromandel International earned Rs.158.59 crore as remuneration in terms of business assistance agreement with South African company Foskor (Pvt) Ltd.
–Indo Asian News Service
