Speed Post News Network
New Delhi : NHPC, a premier hydro power Company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India (GoI), on October 21, 2021, paid a final dividend of Rs 249.44 Crore to Government of India for the F.Y. 2020-21.
A K Singh, CMD, NHPC, handed over the payment intimation advice to R K Singh, Union Power and New & Renewable Energy Minister, in New Delhi on October 26, 2021, in the presence of Alok Kumar, Secretary (Power), GoI, and S K G Rahate, Additional Secretary (Power), GoI, In addition, an interim dividend of Rs 890.85 Crore for the F.Y. 2020-21 was paid on March 5,2021, aggregating total dividend of Rs 1140.28 Crore for the F.Y. 2020-21, according to a PIB release.
The Board of Directors of the Company, at its meeting held on June 10, 2021, had recommended a final dividend at the rate of Rs 0.35 per Equity share i.e. 3.50% of the face value for the F.Y. 2020-21 which was approved at AGM on September 29, 2021. In addition, an interim dividend at the rate of Rs 1.25 per Equity share i.e. 12.50% of the face value was paid on March 5,2021. 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 1,607.21 crore as against Rs 1,506.76 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% of PAT or 5% of Net worth, whichever is higher. In line with the ibid guidelines, NHPC has paid total dividend of Rs 1,607.21 crore which works out to 5.08% of net worth of the Company and 49.71% of PAT for the F.Y. 2020-21.
NHPC had earned net profit of Rs 3,233.37 crore for the F.Y. 2020-21 as against the previous period corresponding figure of Rs 3007.17 crore.