NHPC pays interim dividend of Rs. 890.85 crore to Govt of India for the FY 2020-21
Mar 12th, 2021 6:01 pm | By ThenewsmanofIndia.com | Category: SPECIAL NEWS COVERAGE
(THE NEWSMAN OF INDIA.COM)
NHPC, a premier hydro power Company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India has paid an interim dividend of Rs. 890.85 crore to Government of India for the financial year 2020-21 on March 5th, 2021.
The dividend payout bank advice was presented to R.K. Singh,Minister of State (Independent Charge) (Power and New & Renewable Energy) & Minister of State (Skill Development and Entrepreneurship) by A.K. Singh, CMD, NHPC on March 12th 2020 in the presence of Alok Kumar, Secretary (Power) Government of India,S.K.G. Rahate,Additional Secretary (Power) Government of India, Tanmay Kumar, Joint Secretary (Hydro), Ministry of Power and N.K. Jain, Director (Personnel), R.P. Goyal, Director (Finance), Biswajit Basu, Director (Projects) and H.S. Puri, Chief General Manager (Finance) from NHPC. NHPC had already paid Rs. 228.06 crore to Government of India during the current fiscal 2020-21 on account of final dividend for the financial year 2019-20. Thus, NHPC has paid total dividend of Rs. 1118.91 crore to Government of India during the financial year 2020-21.
Board of Directors of the Company in its meeting held on 11th February 2021 had declared an interim dividend at the rate of Rs. 1.25 per Equity share i.e. 12.50% of the face value. NHPC today has seven lakh shareholders (approx.) and total interim dividend pay-out for the financial year 2020-21 worked out to Rs 1255.63 crore. The Company had paid an interim dividend of Rs. 1.18 per share with total outflow of Rs. 1185.31 crore for the financial year 2019-20 in addition to final dividend of Rs. 0.32 per share with total outflow of Rs. 321.44 crore. Thus, total dividend of Rs. 1.50 per share with total outflow of Rs. 1506.76 crore had been paid for the financial year 2019-20.
In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines dated May 27, 2016 on Capital Restructuring of CPSEs, each CPSU would 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 had paid total dividend of Rs. 1506.76 crore i.e. 5.03% of net worth of the Company for the financial year 2019-20.
NHPC had earned net profit of Rs. 2829.16 crore for the nine months ended FY’21 as against the previous period corresponding figure of Rs. 2624.26 crore. The Company had earned net profit of Rs. 3007.17 crore for the financial year 2019-20.
Government News
- RK Chaudhary, CMD, addressed NHPC employee 09/06/2024
- Union Textile Minister visits NBCC Executed Int. Craft Complex 09/06/2024
- Maharashtra Guv inaugurates iconic statue of NSE Bull 09/06/2024
- REC wins “Nodal Agency of the Year” Awards 2024 09/05/2024
- RECPDCL Hands Over Tumkur-II REZ Power Transmission to M/s G.R. Infraprojects 09/04/2024