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India Tourism Minister receives dividend check from ITDC

India Tourism Minister receives dividend check from ITDC

India Tourism Development Corporation (ITDC) Chairperson and Managing Director (CMD), Ms. Ravneet Kaur, presented the dividend check amounting to Rs.9.93 Cr (approximately US$154,000) on behalf of the corporation to Union Tourism Minister Shri K J Alphons for the financial year 2016-17. The amount has been paid to the Government of India being the largest shareholder having 87.03% of the paid-up capital of the company.

The ceremony was conducted in the presence of Ms. Rashmi Verma, Secretary, Ministry of Tourism; Shri Suman Billa, Joint Secretary, Ministry of Tourism; Mr. Piyush Tiwari, Director Commercial & Marketing, ITDC; Mr. P K Das, Director Finance & CFO, ITDC. along with other senior officials of Ministry of Tourism and ITDC at the Minister’s office, Transport Bhawan, New Delhi.

ITDC is the public sector undertaking which falls under the aegis of the Ministry of Tourism, and it had declared a dividend of 13.30% at its 52th Annual General Meeting (AGM) on the equity share capital of the company amounting to total of Rs.11.41 crore for 2016-17. The decision for the payment of dividend was taken during the AGM held at the group’s flagship hotel, The Ashok, New Delhi.

It is to be noted that ITDC has been consistently paying dividend to its shareholders from many years.

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