SCI board meet to discuss bumper dividend
Mumbai: The meeting of the board of directors of Shipping Corporation of India (SCI) scheduled today to consider an interim dividend is significant due to two aspects. The meeting is expected to recommend a bumper dividend ahead of the disinvestment of SCI. And the board meeting coincides with the crucial meeting of Cabinet Committee on Disinvestment (CCD) in Delhi on Friday which will consider the implication of the Supreme Court judgement on HPCL and BPCL disinvestment.

While industry watchers say that the CCD meeting is unlikely to have any direct impact on the sale of SCI, sources were quoted as saying that the outcome of the CCD meeting may delay the process of privatisation of all PSUs. SCI's decision, they aver, to consider an interim dividend follows the advice of the inter-ministerial group that felt it is prudent for the government to pocket a part of the money from the SCI's coffers before it is privatised. The government had earlier done this, in the case of VSNL.
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