PFC pays interim dividend of Rs 1404.37 Cr for FY2019-20

New Delhi: Power Finance Corporation (PFC) has paid an interim of Rs 1404.37 crore to the government for the current financial year (FY 2019-20) on Thursday.

The dividend RTGS intimation bank advice was presented to Union Minister of State (IC) for Power and New & Renewable Energy, and Minister of State for Skill Development and Entrepreneurship RK Singh by PFC's Chairman & Managing Director (CMD) Rajeev Sharma.  Ministry of Power's Additional Secretary Ashish Upadhyaya and Joint Secretary Mritunjay Kumar Narayan, PFC's Director (Finance) NB Gupta, Director (Commercial) PK Singh, Director (Projects) RS Dhillon and Executive Director R Murahari were also present on the occasion.

The dividend RTGS intimation bank advice has been presented to Union Minister of State (I/c) for Power RK Singh by PFC's Chairman & Managing Director (CMD) Rajeev Sharma

Backdrop

The power PSU in its board meeting held on February 12, had approved the interim dividend at the rate of Rs 9.50 per equity share on the face value of the paid-up equity shares of Rs. 10/- each for the FY 2019-20. The information was shared by PFC during regulatory filing on February 13.

Power Finance Corporation (PFC)

PFC is under the administrative control of the Ministry of Power. PFC has been named Asia's most trusted companies for 2019 by IBC. PFC was given the coveted title based on comprehensive research conducted by IBC, a division of the international brand consulting corporation bases in the USA.

PFC has been conferred the title of a 'Navratna CPSE' in June 2007 and was classified as an Infrastructure Finance Company by the RBI on July 28, 2010. PFC is playing a crucial role in the rise of India as a global player.