Bhubaneswar: Three Public Sector Undertakings (PSUs) under the Department of Agriculture and Farmers Empowerment, Odisha, have paid a total dividend of Rs 6 crore 39 lakh 97 thousand 589 to the State Government, in accordance with the provisions of the Indian Companies Act, 2013 and directives of the Finance Department.
As per Office Circulars issued by the Finance Department, PSUs are mandated to pay 30 per cent of their Profit After Tax (PAT) as annual dividends.
Accordingly, Odisha Agro Industries Corporation (OAIC), Odisha State Seeds Corporation Limited (OSSC), and Odisha State Cashew Development Corporation Limited (OSCDC) deposited the dividend following approval by their respective Boards of Directors and Annual General Meetings.
The dividend was formally handed over in the presence of Deputy Chief Minister and Minister for Agriculture and Farmers Empowerment and Energy, Kanak Vardhan Singh Deo, at Lok Seva Bhavan on Tuesday.
OAIC contributed Rs 5.23 crore for the financial year 2023–24, while OSSC paid Rs 23.20 lakh for the financial year 2021–22. OSCDC paid Rs 46.51 lakh each for the financial years 2022–23 and 2023–24, amounting to Rs 93.02 lakh.
These state-owned enterprises have shown strong financial performance and continue to play a crucial role in strengthening the agriculture sector and empowering farmers across the state. Their consistent profitability reflects effective governance and contributes to Odisha’s economic growth.
A symbolic cheque was presented to the Deputy Chief Minister during the event. Principal Secretary and Chairman of the Corporations under the Department of Agriculture and Farmers Empowerment, Dr. Arabinda Kumar Padhee, along with senior officials, OAIC officers, OSCDC Managing Director Subrat Kumar Panda, and OSSC Managing Director Niti Ranjan Sen, were present on the occasion.
