CWC pays Rs. 14.22 cr dividend to govt

New Delhi :The Central Warehousing Corporation (CWC) paid Rs. 14.22 crore as dividend for the year 2009-10 to Sharad Pawar, Minister of Agriculture, Consumer Affairs, Food and Public Distribution, here on Thurday.

Pawar said CWC has augmented its storage capacity by about 1 lakh tonne during the year mostly for food grain stocks besides increasing its capacity utilization.

CWC achieved a post tax profit of Rs. 130.52 and declared an all time high dividend of 38% as against 30% paid during the year.

CWC posted yet another record turnover of Rs.987.95 crore during 2009-10 as against Rs.849.25 crore during the preceding year, thus posting a growth of 16.33%.

This impressive performance could be achieved due to increase in capacity utilization (occupancy) to 85% as against 82% achieved during previous year, claimed the company.

Besides, handling of containers at CFSs/ICDs and revenue earned out of Container Rail Transport operations and Pest Control activities also registered growth.

CWC has a plan of construction of godowns on its own land to the extent of 1.87 lakh tonne during current financial year and 2.13 lakh tonne during 2011-12 mostly for storage of food grain stocks besides creating 5.82 lakh tonne under PEG-2009 in the states of Gujarat, Maharashtra and Kerala.