Home Forest OFDC Pays 1.58 Cr Dividend

OFDC Pays 1.58 Cr Dividend

Bhubaneswar: The Odisha Forest Development Corporation (OFDC) on Thursday paid a dividend of Rs 1,58,13,175 to the State Government for the financial year 2019-20.

OFDC Managing Director Rajiv Kumar handed over the cheque to State Chief Secretary Suresh Chandra Mohapatra.

Chief Minister Naveen Patnaik graced the occasion. Secretary to CM V K Pandian coordinated the program.

Development Commissioner PK Jena, OFDC Chairman Parag Gupta and other senior officers were in attendance.

In her welcome address, Forests and Environment Department Additional Chief Secretary Mona Sharma highlighted the various activities of the OFDC.

OFDC earned a Profit after Tax of Rs 10.54 crore in FY 2019-20, and paid out dividend of Rs 1.58 crore to the State government towards its share.

Founded in 1962, the Odisha Forest Development Corporation is the oldest forest corporation in the country.

It has been making profit for the last 15 years. OFDC has 52 central timber depots and 67 firewood depots in 20 divisions across the state.

This year, the Corporation has planted 4.91 lakh saplings.

OFDC has all along has been contributing to State Exchequer regularly and also donating to CMRF while State faces any natural calamity, said sources.