SPMCIL pays Rs 215.48 cr dividend to government

SPMCIL pays Rs 215.48 cr dividend to government

State-owned Security Printing and Minting Corporation of India Limited (SPMCIL) on Thursday paid a final dividend of Rs 215.48 crore to the Government of India for 2019-20.

The dividend is 5 per cent of net worth of the company as on March 31, 2020, or 41 per cent of profit for 2019-20, in compliance with guidelines of the Department of Investment and Public Asset Management (DIPAM).

The company, wholly owned by the Government of India and under the administrative control of Department of Economic Affairs (DEA), presented dividend cheque to Finance Minister Nirmala Sitharaman, the Finance Ministry said in a statement.

SPMCIL has achieved the targets for production of bank notes, coins, security paper, passports, security ink and other security products during the year 2019-20, it said.

The company produced 9,824 million pieces of bank notes, 3,282 million pieces of circulating coins, 7,010 metric ton (MT) security paper, 851 MT of security ink in 2019-20, it added.

During 2019-20, the company’s revenue from operations was at Rs 4,966 crore and profit before tax rose to Rs 1,026.79 crore.

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