The state-run Orissa Mining Corporation (OMC) has paid the highest-ever dividend of Rs 250 crore to the state government, official sources said today.
Steel and Mines Minister Raghunath Mohanty handed over a cheque to Chief Minister Naveen Patnaik yesterday. This amount was about eight times the share capital invested by the state government in the PSU.
OMC, established in 1956, became a wholly state-owned enterprise in 1962 with the government infusing a share capital of Rs 31.45 crore.
The corporation had paid a dividend of Rs 60 crore each in 2004-05 and 2005-06.
In 2006-07 and 2007-08, the dividend amount was Rs 100 crore and Rs 200 crore respectively.
Despite a global recession in 2008-09 fiscal, the OMC has managed to record the highest turnover of Rs 2,085.27 crore and announced a gross profit of Rs 1,890.22 crore.
This apart, the OMC also donated Rs 10 crore to the Chief Minister's Relief Fund.
The steel and mines department had by December, 2009 earned a revenue of Rs 1200, said its secretary A K Alwai.
