These PSUs have declared interim dividends in 2020 so far

New Delhi: Faced with a revenue crunch in the backdrop of the COVID-19 pandemic, the government is relying on, among other sources, PSUs to make up for the shortfall as much as possible and has clearly dictated the companies to pay interim dividends. On March 10, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhn Kanta Pandey had said that the government has introduced a new 'consistent dividend policy' under which public sector undertakings (PSUs) will be paying between two to four interim dividends in a financial year to ensure continuity of dividends for shareholders. The declaration of interim dividends by PSUs is not new, however, the official direction certainly seems to have created pressure on PSUs to reach out into their treasuries and deliver dividends to stakeholders. Resultantly, a number of PSUs have declared interims dividends over the past few weeks.

Power Grid: The board of directors of Power Grid in a meeting held on March 1, declared the 2nd interim dividend for the current financial year (FY 2020-21). The board has approved the payment of the 2nd interim dividend of Rs 4.00 per equity share of Rs 10/- each ( @ 40 percent of the paid-up equity share capital) for the Financial Year 2020-21. The interim dividend shall be paid to the Members on March 30.

Coal India Limited (CIL): The Board of CIL declared the 2nd interim dividend on March 5. The Board has approved payment of the second interim dividend of Rs 5 per share for FY 2020-21. The date of payment of the interim dividend is on and from March 24.

RITES Limited: The board of directors of RITES Limited at its meeting held on March 12, declared the second interim dividend of Rs 4 per share on the share with the face value of Rs 10 each. The record date for the purpose of payment of a dividend is March 20.

Indian Oil: The board of directors of Indian Oil, in their board meeting held on March 16, declared a second interim dividend of Rs 3 per share for FY 2020-21. The dividend will be paid by April 15.

GAIL (India) Limited: The board of directors of GAIL declared a second interim dividend of Rs 2.5 per share. The interim dividend will be paid on March 23, the company had informed.

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Power Finance Corporation (PFC): The board of directors of PFC, in their board meeting held on March 12, had declared an interim dividend of Rs 8 per share. March 22 has been set as the record date for payment.

Hindustan Aeronautics Limited (HAL): The board of directors of in their board meeting held on February 26, declared an interim dividend of Rs 15 per equity share of Rs 10/- each fully paid up (150%) for the financial year 2020-21. The company had already paid an interim dividend of Rs 501.58 crore for the financial year 2020-21 to the shareholders. Out of this, Rs 376.93 crore was paid to the government against the government's shares in the Defence PSU.

National Aluminium Company (NALCO): The board of directors of NALCO in their meeting held on March 15 approved payment of 2nd interim dividend at Rs 2.00 per share (@ 40 percent on the Face value of Rs 5/- each) for the financial year 2020-21 on the paid-up equity share capital of the company. The dividend shall be paid within 30 days from the date of declaration of dividend, the company had said.

REC Limited: The Board of Directors of REC Limited, in its meeting held on March 10, approved the payment of the 2nd interim dividend at Rs. 5/- per equity share of Rs 10/- each for the financial year 2020-21. Further, the interim dividend shall be paid on March 30.

Bharat Electronics Limited (BEL): The board of directors of BEL, in its board meeting held on March 16, declared the second interim dividend at Rs 1.40/- per equity share of Rs 1/- each fully paid-up (140%) for the financial year 2020-21. The date for the payment of the dividend is March 24.

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