WAPCOS pays highest ever dividend of Rs 42 cr

Speed Post News Network

New Delhi : Union Water Resources, River Development and Ganga Rejuvenation Minister Nitin Gadkari on SEptember 26, 2017, received a dividend cheque of Rs 42.13 crore from CMD of WAPCOS Ltd, a public sector undertaking. R K Gupta in New Delhi. Gupta also presented bonus shares worth Rs 30 crore to the Minister.

The Dividend of Rs 42.13 Crore (Inclusive of Dividend Tax) is the highest ever since inception of the Company. With the issuance of Bonus Shares of Rs 30 Crore, the Company’s Paid up Capital has increased by 32.5 times (from Rs 2 Crore to Rs 65 Crore) during last seven years.

Speaking on the occasion, Gadkari, according to a PIB release,  said that in the field of major infrastructure projects particularly in the construction of dams and reservoirs, irrigation channels, water supply and sanitation, power plants and transmission lines, ports and harbours and even in road construction, WAPCOS is an established brand name in India and abroad. He said, “I have been particularly impressed with the Company’s pursuit of the Government’s goal of partnering with our friends in developing countries to build up their capacities through projects supported by India.”