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NHPC pays interim dividend of Rs 526.23 cr to government

PW Bureau

NHPC has more than seven lakh shareholders and therefore, the total interim pay-out for the financial year 2018-19 worked out to Rs 713.20 crore, an official statement said New Delhi: State-run hydropower generation company, NHPC, has paid an interim dividend of Rs 526.53 crore to the government for the financial year 2018-19. The dividend payout bank advice was presented to RK Singh, Minister of State (Independent charge), Power and New and Renewable Energy, by Balraj Joshi, CMD of NHPC. NHPC had already paid Rs 211.63 crore to the government during the current fiscal 2018-19 on account of final dividend for the financial year 2017-18. Thus, NHPC paid a total dividend of Rs 738.16 crore during the fiscal year 2018-19.
The company had paid a total dividend of Rs 1,436.31 crore @ Rs 1.40 per share for the financial year 2017-18 that include an interim dividend of Rs 1,149.05 crore @ Rs 1.12 per share and final dividend of Rs 287.26 crore @Rs 0.28 per share.
Board of Directors of the company in its 422nd meeting held on February 8 had declared an interim dividend at the rate of Rs 0.71 per equity share i.e. 7.10 percent of the face value. NHPC today has more than seven lakh shareholders and therefore, the total interim pay-out for the financial year 2018-19 worked out to Rs 713.20 crore, an official statement released by NHPC said. The company had paid a total dividend of Rs 1,436.31 crore @ Rs 1.40 per share for the financial year 2017-18 that include an interim dividend of Rs 1,149.05 crore @ Rs 1.12 per share and final dividend of Rs 287.26 crore @Rs 0.28 per share. According to the Department of Investment & Public Asset Management (DIPAM) guidelines, dated May 27, 2016 on Capital Restructuring of CPSEs, each CPSU is supposed to pay a minimum annual dividend at the rate of 30 percent of PAT (Profit After Tax) or 5 percent of net worth, whichever is higher. In line with the ibid guidelines, NHPC had paid a total dividend of Rs 1,436.31 crore i.e. 5.07 percent of Net worth and 52.07 percent of the PAT of the company for the financial year 2017-18. NHPC had earned net profit of Rs 2,138.26 crore for the nine months that ended December 2018 as to Rs 2,569.23 crore. The company had earned net profit of Rs. 2758.65 crore for the financial year 2017-18.