Bhubaneswar: The Odisha State Warehousing Corporation (OSWC) has handed over a dividend of Rs 2.88 crore to the state government for the financial year 2023-24, officials said on Monday.
OSWC Managing Director Mihir Prasad Mohanty handed over a cheque of Rs 2,88,37,913 to Cooperation Minister Pradeep Bal Samanta at the latter’s office here in the presence of Cooperation Department Commissioner-cum-Secretary Rajesh Prabhakar Patil and other officials.
The corporation recorded a total profit of Rs 19.22 crore during 2023-24 and declared a dividend equivalent to 30 per cent of its profit, amounting to Rs 5.76 crore.
The dividend has been shared equally between its two shareholders — the Odisha government and the Central Warehousing Corporation — with each receiving Rs 2,88,37,913.
Established in 1958, the OSWC has a total storage capacity of 5,21,600 metric tonnes through 68 godowns spread across all 30 districts of the state.
The corporation has been consistently earning profits through efficient utilisation of its storage capacity and paying dividends to its shareholders.
For 2022-23, the corporation had paid a dividend of Rs 81.59 lakh to each shareholder, while the corresponding figure was Rs 3.40 crore each in 2021-22.
For 2019-20 and 2020-21, it had paid Rs 4.36 crore as dividend to each shareholder.
Senior officials of the corporation, including Secretary and Financial Advisor Smitanjali Swain, Chief General Manager Trupti Kalyan Sethi and Senior Superintendent Prabhat Kumar Parida, were present at the dividend handover programme.
