Indian Tourism Development Corporation (ITDC) on Thursday (May 8) said it will give a dividend of 20% to its shareholders for the financial year 2006-07, reports agency sources.ITDC, which has about 14 luxury hotels across the country under the `Ashoka` brand has announced the dividend after a gap of over nine years.
In the financial year 2006-07, it has earned a net profit of about Rs 1.05 billion an increase of over 100% as compared to Rs 510 million in the 2005-06 fiscal.
ITDC is also expecting a similar profit in 2007-08 fiscal. The company which has last announced the dividend for 1998-99 fiscal was running into losses till 2005, after which it has started yielding profits.
source| myiris.com
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