NHPC pays interim dividend of ₹933.6 crore to Centre for FY22
Premium- NHPC reported a nearly 7.5% dip in its consolidated net profit to ₹889 crore in the December quarter. Total income during October-December 2021 stood at ₹2,373.72 crore
New Delhi: State-owned hydropower company NHPC Ltd has paid an interim dividend of ₹933.61 crore to the Union government for financial year 2021-22.
As per a company statement, AK Singh, CMD, NHPC, presented the dividend payout bank advice to RK Singh, the Union minister for power, new and renewable energy on Thursday.
NHPC paid ₹249.44 crore to the Centre as final dividend for fiscal 2020-21.
The board of directors of NHPC in a meeting held on 11 February had declared an interim dividend of ₹1.31 per equity share - 13.10% of the face value. Currently, NHPC has more than eight lakh shareholders and total interim dividend pay-out for the financial year 2021-22 works out to ₹1,315.90 crore.
As per guidelines of Department of Investment & Public Asset Management (DIPAM) on capital restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend of 30% of profit after tax or 5% of net worth, whichever is higher.
NHPC reported a nearly 7.5% dip in its consolidated net profit to ₹889 crore in the December quarter. Total income during October-December 2021 stood at ₹2,373.72 crore.
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At 1209pm, shares of NHPC traded at ₹28.50 apiece on the BSE, down 0.35% from previous close.
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