HomeBusinessNHPC pays interim dividend of ₹933.6 crore to Centre for FY22

NHPC pays interim dividend of ₹933.6 crore to Centre for FY22

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.

At 1209pm, shares of NHPC traded at 28.50 apiece on the BSE, down 0.35% from previous close.

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