BackGovt received ₹6,138 cr from Coal India, MSTC as dividend tranches: DIPAM
Segregating the amount, DIPAM said that ₹6113 crore were received from Coal India, while ₹25 crore was from MSTC.
PremiumThe Department of Investment and Public Asset Management (DIPAM) on 5 December announced that it has received about ₹6113 crore and ₹25 crore from Coal India Ltd and MSTC as dividend tranches.
Taking to Twitter, DIPAM Secretary Tuhin Kanta Pandey wrote, "Government has respectively received about ₹6113 crore and ₹25 crore from Coal India Ltd and MSTC as dividend tranches."
ALSO READ: Govt gets ₹5,001 cr dividend from ONGC; dividend from CPSEs reach ₹23,797 cr
Earlier on 28 November, the DIPAM had informed that the central government had received around ₹5,001 crore as dividend tranche from ONGC taking the total dividend receipt from Central Public Sector Enterprises to ₹23,797 crore till date so far this fiscal.
In 2020, the DIPAM advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors like profitability, capex requirements, cash/reserve and net worth.
Guidelines say that CPSEs are required to pay a minimum annual dividend of 30 per cent of profit after tax (PAT) or 5 per cent of net worth, whichever is higher.
The revised Budget estimate for dividends from CPSEs was lowered to ₹46,000 crore from ₹50027 crore estimated in the Budget earlier. In 2021-22, the Budget had pegged receipts from dividends of CPSEs at ₹50,027 crore.
The government had in 2016 revised the dividend distribution policy of Public Sector Undertaking (PSU) entities by asking them to pay 30% of post-tax profit or 5% of net worth, whichever is higher, as dividend every year. A week ago, the government received ₹914 crore from state-owned GAIL (India) . Ltd as a dividend tranche.
With agency inputs.
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