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Business News/ Industry / Energy/  PFC pays 2,033 cr interim dividend to Centre for FY24
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PFC pays ₹2,033 cr interim dividend to Centre for FY24

The third interim dividend at 30%— ₹3 per equity share of face value ₹10 each—was declared by the board of directors in its meeting held on 11 March 2024.

For the third quarter of FY24, the power sector focussed NBFC reported a 5.3% increase in its consolidated net profit at ₹6,628.17 crore. (Pixabay)Premium
For the third quarter of FY24, the power sector focussed NBFC reported a 5.3% increase in its consolidated net profit at 6,628.17 crore. (Pixabay)

New Delhi: State-run Power Finance Corp. Ltd (PFC) has so far paid an interim dividend of 2,033 crore for FY24.

A company statement said that on Wednesday it paid 554 crore to the government as the third interim dividend on equity shares held by the Union government for the recently ended fiscal. This is in addition to 832 crore and 647 crore paid as first and second interim dividend, respectively, to the government.

The third interim dividend at 30%— 3 per equity share of face value 10 each—was declared by the board of directors in its meeting held on 11 March 2024.

“With this, PFC has so far paid interim dividends amounting to 3,630 crore to its shareholders @110% i.e. 11 per equity share of the face value of 10 each for the financial year 2023-24, which is the highest ever interim dividend paid by PFC," the statement said.

For the third quarter of FY24, the power sector focussed NBFC reported a 5.3% increase in its consolidated net profit at 6,628.17 crore.

Its revenue from operations during the quarter under review stood at 22,391.00 crore.

PFC has of late diversified into newer areas like infrastructure and airport financing apart from giving a boost to both thermal and renewable energy generation.

In February, the state-run company signed a memorandum of understanding (MoU) with the Goa government to fund the state’s green energy ambitions through a blended finance facility.

Under the MoU, PFC will provide financial support for Goa’s pivotal climate-related projects. These include initiatives in renewable energy, green hydrogen, electric vehicles, converting waste to wealth, and nature-based solutions, all contributing to an energy transition.

In October, the company forayed into airport projects and sanctioned its maiden financing for a greenfield airport project in Andhra Pradesh.

Its shares on the BSE closed at 417.30 on Wednesday, up 2.39% from its previous close.

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Published: 03 Apr 2024, 10:06 PM IST
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