Team News Riveting
New Delhi, October 26
NHPC, a premier hydro power Company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India has paid a final dividend of Rs 249.44 crore to Government of India for the financial year 2020-21 on October 21, 2021.
A K Singh, CMD, NHPC handed the payment intimation advice to R K Singh, Union Minister of Power and New & Renewable Energy in New Delhi today in the presence of Alok Kumar, Secretary (Power), Govt. of India and S K G Rahate, Additional Secretary (Power), Govt. of India. In addition, an interim dividend of Rs 890.85 crore for the fiscal 2020-21 was paid on March 05, 2021 aggregating total dividend of Rs 1140.28 crore for the F.Y. 2020-21.
The Board of Directors of the Company in its meeting held on 10th June 2021 had recommended a final dividend at the rate of Rs 0.35 per Equity share i.e. 3.50 per cent of the face value for the F.Y. 2020-21 which was approved in AGM on September 29,2021. In addition, an interim dividend at the rate of Rs 1.25 per Equity share i.e. 12.50 per cent of the face value was paid on March 05, 2021.
Thus, total dividend of Rs 1.60 per share has been paid for the F.Y. 2020-21. NHPC today has seven lakh shareholders (approx.) and total dividend pay-out for the F.Y. 2020-21 including interim dividend worked out to Rs 1607.21 crore as against Rs 1506.76 Crore for F.Y. 2019.20.
In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines dated May 27, 2016 on Capital Restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend at the rate of 30 per cent of PAT or 5 per cent of Net worth, whichever is higher. In line with the ibid guidelines, NHPC has paid total dividend of Rs 1607.21 crore which works out to 5.08 per cent of net worth of the Company and 49.71 per cent of PAT for the F.Y. 2020-21.
NHPC had earned net profit of Rs 3233.37 crore for the F.Y. 2020-21 as against the previous period corresponding figure of Rs 3007.17 crore.
