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CIAL handed over Rs.31 Cr.as dividend to Government

 
Cochin International Airport Ltd (CIAL) has today handed over Rs.31 Cr. towards the dividend of FY 2016-17 to the Government.  The demand draft of the dividend has been handed over to Mr.Pinaryi Vijayan, Chief Minister of Kerala & Chairman CIAL by Mr.Mathew T Thomas, Minister for water resources & Director,CIAL in a function held at Chief Minister’s Chamber, on Tuesday.

  CIAL and it’s fully owned subsidiary Cochin Duty Free & Retail Services Ltd had registered a cumulative turn over of Rs. 669.06 Cr. for  FY 2016-17. CIAL’s profit (after tax) for the FY was Rs 179.45 Cr. This year the company has declared a dividend of 25% to the 18,300 investors spread across 30 countries. The Government of Kerala has a stake of 32.42% in the company and is given Rs.31 Cr.as the dividend . The company has been paying dividend unfailingly since 2003-04 and with this year the total pay out has touched 203%. So far, the government has received Rs.193.53 cr as the dividend from  the company.

  CIAL , which stood at  fourth in country in terms of international passenger traffic has handled 8.94 million passengers during FY 2016-17. The growth of total traffic compared to the previous FY is 15.06%. The financial year  witnessed the commissioning of many big projects including the 1.5 million square feet Terminal-3. The airport which has got international acclaims for its efforts in adopting green ideas became a first in the world fully powered by solar energy in 2015. The installation capacity of its solar plants has been scaled up to 23.2 MWp during FY 2016-17 and will be enhanced to 40 MWp during FY 2017-18.

  Mr.V.S.Sunil Kumar, Minister & Director of CIAL, Mr.V.J.Kurian, Managing Director, Mr.Saji K.George, Company secretary, Jose K.Thomas, General Manager  were present at the function.

 

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