Tehran, Iran, March 12
By Kamyar Eghbalnejad – Trend:
Securities and Exchange Organization (SEO) has permitted National Iranian Copper Industries Company to increase its capital by 40 percent.
Under the decision, the capital of National Iranian Copper Industries Company is expected to reach 280 billion tomans ($80 million on official rates).
The company has also announced its decision on increasing the level of dividends paid to shareholders by 21 percent.
National Iranian Copper Industries Company is listed in the country’s over-the-counter market, Iran Fara Bourse, and the pension fund of the National Iranian Copper Industries own 54.7 percent of the company.
National Iranian Copper Industries Company earlier in February said that it had discovered six new copper mines.
The company in February forecasted that the value of the output would hit 8.3 trillion tomans (about $1.8 billion) by the end of the current fiscal year (March 20).
Iran’s copper concentrate output amounted to 851,917 tons in the first nine months of current Iranian fiscal year (March 20-Dec. 21, 2017).