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Infrastructure

SAIL declines dividend to government, cites financial covenant risk

Updated : August 31, 2018 01:57 PM IST

"SAIL does not have any cash and bank balance and would need to borrow from the market for payment of dividend," SAIL said in an explanation sent to the government expressing its inability to pay the dividend.
A SAIL spokesman told Reuters that the firm posted a loss in the 2017/18 fiscal year "so there is no chance of a dividend".
SAIL declines dividend to government, cites financial covenant risk
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