Friday, September 30, 2022

PowerGrid declares a total dividend of Rs 4358 cr for FY’19

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New Delhi: Power Grid Corporation of India Ltd. (POWERGRID) dividend for the FY'19 is Rs 4357.92 Cr. The Navratna PSU under the aegis of Ministry of power on Thursday has declared a final dividend of Rs 1307.90 Crore in addition to Rs 3050.02 Crore of interim dividend for the Financial Year 2018-19 which makes the total dividend payout Rs 4357.92 Crore for FY19.

An RTGS advice of Rs 698.81 Crore towards final dividend for the FY'19 was handed over by K. Sreekant, CMD, POWERGRID to the Union Minister of State (IC) for Power, New & Renewable Energy, R.K. Singh on Thursday in New Delhi. Secretary (Power) Subhash Chandra Garg and senior officials of the Ministry of Power and POWERGRID Board Members were also present. In addition to this, an interim dividend of Rs 1629.62 Crore was earlier paid to the Ministry of Power for the year 2018-19. On August 28, 2019, PowerGrid CMD had addressed the stakeholders at the 30th AGM and declared highest-ever dividend payout.

The total dividend of Rs 4357.92 Crore declared by POWERGRID is 83.30% of Paid-up Share Capital as against last year’s total dividend of Rs 2746.59 Crore i.e. 52.50% of Paid-up Share Capital. The dividend amount of Rs 4357.92 Crore is approximately 43.85% of the profit after tax of Rs 9938.55 Crore. POWERGRID has been consistently paying dividend since Financial Year 1993-94. POWERGRID registered a net profit of Rs 9938.55 Crore over a total income of Rs 35618.07 Crore in the FY 2018-19, a growth of 20.55% in net profit and 15.77% in total income compared to FY 2017-18 on a standalone basis.

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