Tuesday, June 28, 2022

HUDCO pays highest ever dividend of Rs 620.59 crore for FY’20

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  • HUDCO has paid highest ever dividend of 31%, amounting to Rs 620.59 crore for the FY'20

  • In FY'20 that happens to be HUDCO's golden jubilee year as well, the company has recorded outstanding financial results

  • HUDCO achieved 45 percent growth in the net profit that has touched an all-time high of Rs 1708.42 crore in the financial year FY'20

New Delhi: Housing and Urban Development Corporation (HUDCO), a Miniratna PSU under the Ministry of Housing and Urban Affairs (MoHUA), has paid an all-time high dividend of Rs 620.59 crore to the government for the financial year 2019-20. In an official release the PSU said, "In its Golden Jubilee year, HUDCO has made an all-time high dividend pay-out of 31 percent amounting to Rs 620.59 crore for the year 2019-20. HUDCO also paid a dividend of Rs 128.65 crore to the Ministry of Rural Development, and Rs 63.26 core to public shareholders."

Union Minister of State (Independent Charge) for MoHUA Hardeep Singh Puri has been presented the final dividend cheque of Rs 428.68 crore for the year 2019-20, by HUDCO’s Director (Corporate Planning) M Nagaraj. While MoHUA’s Secretary DS Mishra, HUDCO’s Director (Finance) D Guhan and other senior officials were also present on the occasion.

ALSO READ: HUDCO posts robust financial results in golden jubilee year FY'20

Housing and Urban Development Corporation Limited (HUDCO)

HUDCO is a Miniratna PSU under the Ministry of Housing and Urban Poverty Alleviation. It is the premier techno-financing PSE, in the field of housing and infrastructure development in the country. HUDCO started financing the development of infrastructures in 1989. The priority was given for infrastructure facilities, including projects in the sectors of drainage, electricity, water supply, sewerage, solid waste management and roads in urban areas. Later, social infrastructure components like primary schools and playgrounds, hostels for working women, healthcare centres, police stations and jails, courts received the benefit of funding for a low cost.

ALSO READ: Data shows oil PSUs have spent only 25% of FY21 capex until August

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