Govt receives ₹1487 crore from NTPC as dividend tranche
1 min read 15 Sep 2023, 02:55 PM ISTThe development comes days after NTPC announced the payment of its Final Dividend for the financial year 2022-23
PremiumThe government has received about ₹1487 crore from state-owned power corporation NTPC as dividend tranche, Secretary, DIPAM said in a tweet. The development comes days after NTPC announced the payment of its Final Dividend for the financial year 2022-23. The company released ₹2908.99 crore which constituted 30% of the paid-up equity share capital.
“NTPC Ltd., India's leading power generation company, has announced the payment of its Final Dividend for the financial year 2022-23. This Final Dividend payment of ₹2908.99 crore constitutes 30.00% of the paid-up equity share capital of NTPC Ltd. The total dividend disbursed for FY 2022-23 stands at an impressive Rs. 7,030.08 crore, being 41% of the Profit After Tax (PAT) for the financial year," the company said in a release on 9 September.
The statement added that this marks the 30th consecutive year in which the company has distributed dividends, underscoring its dedication to providing consistent returns to its investors. “As a key player in the Indian energy sector, NTPC Ltd. continues to drive excellence, sustainable growth, and shareholder satisfaction through its strategic initiatives and robust financial performance," it said.
Lower than previous dividend tranche
The dividend tranche released is lower than the previous release in February which was ₹2,106 crore. “Government has respectively received about ₹2,106 crore, ₹1,791 crore and ₹58 crore from NTPC, PGCIL, and Engineers India Ltd as dividend tranches," DIPAM said in a tweet in February.
Recently, NTPC announced that the combined power generation capacity of its group has now reached 73,824 megawatts (or 73.8 gigawatts). This milestone was reached following the successful completion of the trial operation of the initial 800-megawatt unit at the Telangana Super Thermal Power Project on 5 September.
"With this, the installed capacity of NTPC Limited and NTPC Group has become 57,838 MW and 73,824 MW respectively," it said.
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