CIAL Dividend Distribution
The Shareholder of Cochin International Airport Limited (CIAL) lend in their approval for the declaration of 17 (seventeen) % as the annual dividend for the financial year 2012-13 in the 19th AGM held on 27th September 2013 under the Chairmanship of the Hon’ble Chief Minister of Kerala. Accordingly, Managing Director Shri.V.J. Kurian IAS informed that the entire dividend warrants have been dispatched to all the shareholders. He also informed that CIAL now has 17844 shareholders and the paid up equity capital of CIAL as on date is Rs.306.06 Crores. With the payout of the dividend for 2012-13, CIAL has created history by repaying to the shareholders more than the paid up capital of CIAL. The financial success was attributed to the efficient supervision and control by the CIAL management coupled with the dedicated and committed employees who have put their best efforts to bring for the best for CIAL and for the society and aviation domain. CIAL which declared dividend from 2003-04 (which itself is a wonder in the infrastructure domain and that too against all odds of the debt burden) has today cumulatively paid out 114% as dividend in a progressive manner. Govt. of Kerala, both Central & State Public Sector companies which invested in CIAL, Nationalized and private sector banks who are shareholders of CIAL and all shareholders have received back more than their investment in CIAL. State Govt. of Kerala which has Rs.98.68 cr stake in CIAL has got back more than a hundred Crores in dividend.
The Shares of CIAL were given at the face value of Rs.10/- and even in the two rights issues that were made, the share were offered at the face value itself. However, there is a great demand for shares of CIAL in the market and the price of CIAL shares is remarkably very high. The fact that CIAL declared dividend from the 4th year of its operation and that CIAL has been making steady progress over the years is the reason for the dearness to CIAL shares.
Managing Director also informed that from 2010-11, CIAL has made arrangements for distributing dividends through bank transfer, but only 28% of the shareholders have availed this facility. He also informed that these 28% shareholders were given their dividend through bank transfer within 7 days from the date of AGM. If the remaining shareholders also opt for the transfer through bank transfer, then the delay in receipt of dividend could be avoided. Shareholders who wish to avail this facility may please contact the registered office of CIAL at marine drive. (0484-2374154 or firstname.lastname@example.org