Cochin International Airport Ltd (CIAL) handed over Rs.33.49 crore as dividend for the financial year 2018-19 to the Kerala government. Chief Minister Pinarayi Vijayan received the cheque from VJ Kurian, Managing Director, CIAL.
CIAL registered a net profit of Rs. 166.92 crore on a turnover of Rs. 650.34 crore during FY 2018-19. The consolidated turnover achieved by CIAL and its fully owned subsidiary, CIAL Duty Free and Retail Services Ltd (CDRSL), stands at Rs.807.36 crore. The consolidated profit of CIAL and its subsidiary for the accounting year is Rs.184.77 crore. The company had declared a dividend of 27% for 2018-19 and as the State government holds a share of 32.42 per cent, it got Rs.33.49 crore as dividend.
CIAL, which pioneered the idea of PPP model in airport infrastructure development, enjoys a base of more than 19,000 investors from 30 countries and has been paying dividend from 2003-04 and with the last fiscal the total dividend pay-out touched 255 %. CIAL today stands fourth in the country in terms of of international traffic and seventh in total traffic. The airport handled 10 million passengers during the last two financial years.
The dividend cheque was handed over during the director board meeting of the company. Chief Minister Pinarayi Vijayan who is also the chairman of the company chaired the meeting. CIAL directors Dr.Thomas Isaac- Minister, Roy K.Paul, A.K.Ramani, N.V.George,V.J.Kurian and Company Secretary Saji K.George were present.