Kanan Devan Hills Plantations Company declares 15 per cent dividend for 2013-14

MUNNAR (KERALA): Kanan Devan Hills Plantations Company (KDHP), one of the largest partly-employee-owned companies in the country, has declared a 15 per cent dividend for 2013-14.

This was announced at KDHP's ninth annual general meeting held here. Last year also, the company had declared a dividend of 15 per cent, a press release said here today.

The turnover for the year registered a 10 per cent increase over last year at Rs 286.80 crore, while the profit after tax was Rs 15.54 crore. The net profit saw an increase of 26 per cent as compared to previous year.

The total payout for dividend was Rs 1.16 crore. Out of the 11,766 shareholders of KDHP, a total of 11,738 are from employee category, comprising labourers, staff, executives, non-staff and former employees, including those who have resigned and retired, the release added.

Of these, labourers make a big chunk of 10,082 shareholders. The minimum number of shares held per labourer is 300.

At the AGM, P T Siganporia, Chairman, said the company is taking initiatives to include around 3,000 small growers in Kerala and Tamil Nadu into the ambit of Rainforest Alliance Certification, which the company had recently received for its entire plantations at one shot.

The 'Ripple' brand of KDHP was well accepted in the markets and the company aims to grow it manifolds while creating a few more world-class brands of KDHP, he said.

The participatory management structure of KDHP, the largest producer of tea in south India, was a unique business management model in the plantation sector.

During the annual general meeting, the Chairman congratulated and honoured Vasanthi, a worker of Chittavurrai North Division of the company, who was selected for Prime Minister's Shram Devi award recently in recognition of her extra-ordinary zeal and enthusiasm towards work.