Excelsior Correspondent
JAMMU, Sept 23: NHPC, a premier hydro power Company and a ‘Navratna’ Enterprise paid a final dividend of Rs. 338.51 crore to GoI for the FY 2023-24, here today.
The dividend was presented to Manohar Lal, Union Minister of Power and Housing and Urban Affairs by R.K. Chaudhary, CMD, NHPC, in the presence of Pankaj Agarwal, Secretary (Power), Srikant Nagulapalli, Additional Secretary (Power), Mohammad Afzal, Joint Secretary (Hydro) from Ministry of Power, R.P. 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 had recommended a final dividend at the rate of Rs. 0.50 per Equity share i.e. 5.00% of the face value for the F.Y. 2023-24, which was approved in AGM.
In addition, an interim dividend at the rate of Rs. 1.40 per Equity share i.e. 14.00% of the face value was paid on March 05, 2024. Thus, total dividend of Rs. 1.90/- per Equity share i.e. 19.00% of the face value has been paid for the F.Y. 2023-24.
NHPC today has more than Thirty eight lakh shareholders and total dividend pay-out for the F.Y. 2023-24 including interim dividend worked out to Rs.1908.56 crore as against Rs.1858.33 crore for F.Y. 2022-23.
In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines on Capital Restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend at the rate of 30% of PAT or 5% 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% of net worth of the Company and 50.98% of PAT for the F.Y. 2023-24.
NHPC had earned net profit of Rs.3743.94 crore for the F.Y. 2023-24 as against the previous period corresponding figure of Rs. 3833.79 crore.
In addition, an interim dividend of Rs. 947.82 crore for the F.Y. 2023-24 was paid on March 05, 2024 aggregating total dividend of Rs. 1286.33 crore for the F.Y. 2023-24.
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