GDMC pays Rs 269.44 crore dividend to Gujarat govt

PTI Updated: October 16, 2023 21:17 IST

New Delhi, Oct 16 (PTI) State-owned GMDC on Monday said that it has paid a dividend of Rs 269.44 crore to the Gujarat government.
     The dividend cheque was handed over to Gujarat Chief Minister Bhupendra Patel.
     The Gujarat government owns 74 per cent stake in Gujarat Mineral Development Corporation (GMDC).
     The dividend amount is equivalent to 30 per cent of the public sector firm's net profit for FY23.
     "The increased dividend reflects our commitment to creating enduring value for our shareholders. This strategic move exemplifies our dedication to fostering economic growth and prosperity in collaboration with the visionary policies set by the government of Gujarat," GMDC's managing director Roopwant Singh said.

(This story has not been edited by THE WEEK and is auto-generated from PTI)