NHPC pays Rs997.75 crore interim dividend to govt for FY23
1 min read . Updated: 02 Mar 2023, 07:30 PM IST
Premium- NHPC had already paid ₹356.34 crore to government of India during the current fiscal 2022-23 on account of final dividend for the financial year 2021-22
NEW DELHI : State-owned hydro power giant NHPC on Thursday said it has paid an interim dividend of ₹997.75 crore to the government for the financial year 2022-23.
On Thursday, NHPC Chairman and Managing Director R.K. Vishnoi handed over dividend payout advice of ₹997.75 crore to Minister of State for Power and New & Renewable Energy RK Singh in the presence of Power Secretary Alok Kumar, NHPC Director (Finance) R.P. Goyal and NHPC Executive Director (Finance) S.N. Upadhyay, the company said in a statement.
“NHPC had already paid ₹356.34 crore to Government of India during the current fiscal 2022-23 on account of final dividend for the financial year 2021-22. Thus, NHPC has paid total dividend of ₹1354.09 crore to Government of India during the financial year 2022-23," it said.
The Board of Directors of the company in its meeting held on February 7, 2023, had declared an interim dividend at the rate of ₹1.40 per equity share i.e. 14.00% of the face value, NHPC said, adding it has over 8 lakh shareholders and total interim dividend pay-out for the financial year 2022-23 “worked out to ₹1406.30 crore".
The company had paid an interim dividend of Rs. 1.31 per share with total outflow of ₹1315.90 crore for the financial year 2021-22 in addition to final dividend of ₹0.50 per share with total outflow of ₹502.25 crore. Thus, total dividend of ₹1.81 per share with total outflow of ₹1818.15 crore had been paid for the financial year 2021-22.
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 ₹1818.15 crore which works out to 5.43% of net worth of the Company for the financial year 2021-22.
According to the statement, NHPC has earned a net profit of ₹3264.32 crore for the first nine months of the current financial year against ₹2977.62 crore in the year-ago period. The company had earned net profit of ₹3537.71 crore for the financial year 2021-22.
