Ircon,a subsidiary of Railways,has announced a dividend of Rs 64 crore for 2011-12,which is the highest amount ever paid by the company to its shareholders. The dividend of Rs 64 crore is 650 per cent of its paid-up share capital of Rs 9.89 crore. The company announced the decision to pay the dividend in its 36th Annual General Meeting held yesterday. According to a company statement,the cumulative dividend paid to the shareholders including the interim payment for the previous fiscal amounts to Rs 94 crore. Besides dividend,the state-run company has also approved a bonus issue of 1:1,which would take the paid-up share capital to Rs 19.79 crore. A P Mishra,Chairman Ircon and Member Engineering Railway Board,while addressing the shareholders highlighted the achievements of the company during 2011-12,in particular its the turnover of Rs. 3782 crores and a net profit of Rs 470 crore which is 95 per cent more than that of last year. The PSU is involved in several international and domestic projects.
