New Delhi: NHPC Limited has paid a final dividend of Rs 338.51 crore to government for the FY 2023-24. In addition, an interim dividend of Rs 947.82 crore for the FY 2023-24 was paid on March 05 aggregating total dividend of Rs 1286.33 crore for the FY 2023-24.
The dividend payout bank advice was presented to Union Minister of Power and Housing and Urban Affairs Manohar Lal by NHPC CMD RK Chaudhary on September 23 in the presence of Secretary (Power) Pankaj Agarwal, Additional Secretary (Power) Srikant Nagulapalli, Joint Secretary (Hydro) Mohammad Afzal from Ministry of Power and RP Goyal, Director (Finance); Uttam Lal, Director (Personnel) and Sanjay Kumar Singh, Director (Projects & Technical) from NHPC.
The board of directors of the company in its meeting held on May 17 had recommended a final dividend at the rate of Rs. 0.50 per Equity share i.e. 5.00 percent of the face value for the FY 2023-24 which was approved in AGM on August 28. In addition, an interim dividend at the rate of Rs 1.40 per Equity share i.e. 14.00 percent of the face value was paid on March 05. Thus, total dividend of Rs 1.90/- per Equity share i.e. 19.00 percent of the face value has been paid for the FY 2023-24. NHPC has more than 38,00,000 shareholders and total dividend pay-out for the FY 2023-24 including interim dividend worked out to Rs 1908.56 crore as against Rs 1858.33 crore for FY 2022-23.
In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines dated May 27, 2016 on Capital Restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend at the rate of 30 percent of PAT or 5 percent of Net worth, whichever is higher. In line with the ibid guidelines, NHPC has paid total dividend of Rs 1908.56 crore which works out to 5.12 percent of net worth of the company and 50.98 percent of PAT for the FY 2023-24. NHPC had earned net profit of Rs 3743.94 crore for the FY 2023-24 as against the previous period corresponding figure of Rs 3833.79 crore.
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