New Delhi: Board of directors of Housing & Urban Development Corporation (HUDCO) in their meeting held on March 18, have approved the payment of interim dividend for the financial year 2020-21. The board has approved an interim dividend at 7.5%, Rs 0.75 per equity share of Rs 10/- each. They have also fixed March 26, as the record date for the payment of the interim dividend for the FY 2020-21. This information has been shared by HUDCO in a regulatory filing to the stock exchange on Thursday.
"The process for payment of Interim dividend will start from March 29, 2021, and the same will be completed within 30 days of its declaration," the company further added.
Earlier in October 2020, HUDCO had paid an all-time high dividend of Rs 620.59 crore to the government for the financial year 2019-20. HUDCO had also paid a dividend of Rs 128.65 crore to the Ministry of Rural Development, and Rs 63.26 core to public shareholders.
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.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)
