PTI reported that Ircon a subsidiary of Railways, has announced a dividend of INR 64 crore for 2011-12, which is the highest amount ever paid by the company to its shareholders.

The dividend of INR 64 crore is 650% of its paid up share capital of INR 9.89 crore. The company announced the decision to pay the dividend in its 36th Annual General Meeting.

According to a company statement, the cumulative dividend paid to the shareholders including the interim payment for the previous fiscal amounts to INR 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 INR 19.79 crore.

Source - PTI

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