MTNL gives Rs 35.43 cr dividend to Govt

NEW DELHI, INDIA: State-run telecom player MTNL today presented a cheque for Rs..35.43 crore, towards 10 per cent dividend for the financial year 2008-09 to the Union Minister of Communications and IT, A. Raja.

In its 23rd AGM held on September 25, MTNL had approved the payment of the final dividend at the rate of 10 per cent, amounting to Rs.. 63 crore on the paid-up equity capital of Rs..630 crore for the financial year 2008-09, out of which Rs.. 35.43 crore paid to the Govt. of India and Rs.. 27.57 crore to others, MTNL said in a statement.

MTNL said during 2008-09, it has seen a significant growth in the subscriber base of services like mobile, broadband, IPTV, etc. in both Delhi and Mumbai. The recent launch of 3G service in Delhi attracted more than 20000 customers within one week of the launch. As on August 31, 2009, MTNL’s customer base of voice services exceeds 8.18 million.

Congratulating MTNL for introducing latest technologies in their network, Raja said it’s very evident that they (MTNL) are moving in the right direction.

“MTNL has been playing a key role in stimulating the market dynamics by reducing tariffs and providing greater consumer benefits,” he observed.

MTNL said it has paid dividend at the rate of 40 per cent on its equity capital of Rs..630 crore during last year. During the last eight years (excluding 2008-09), an aggregate amount of Rs.. 2173.50 crore has been paid as dividend to all the shareholders out of which Rs..1222.59 crore has been paid to the Govt. of India on their shareholding of 56.25 per cent in the company.

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