MTNL CMD R.S.P Sinha today handed over a Rs 35,43,72,740 cheque to Union Communications Minister A Raja as part of dividend announced for the last fiscal.

MTNL had announced a dividend at the rate of 10 % amounting to Rs 63 crore out of which Rs 27.57 will be paid to other shareholders.

Last year MTNL had paid a 40 % dividend. CMD R.S.P Sinha said that the reduced dividend was on account of increased expenditure due to salary hike and investment in 3G.

On the occasion, Raja called upon the operator to stand before other operators in the competitive market environment.