PSU NHPC Limited has paid a final dividend of Rs 338.51 crore to the government for the FY 2023-24. In addition to this, the state-owned power entity paid an interim dividend of Rs 947.82 crore for the FY 2023-24 was paid on March 05 aggregating a total dividend of Rs 1286.33 crore for the FY 2023-24.
The dividend payout bank advice was presented to the Union Minister of Power and Housing and Urban Affairs, Mr. Manohar Lal Khattar, by the NHPC CMD, Mr. RK Chaudhary on September 23rd in the presence of Secretary (Power) IAS Pankaj Agarwal (1992 batch), Additional Secretary (Power) IAS Srikant Nagulapalli (1998 batch), Joint Secretary (Hydro) IAS Mohammad Afzal (1995 batch) from Ministry of Power and Mr. R P Goyal, Director (Finance); Mr. Uttam Lal, Director (Personnel) and Mr. Sanjay Kumar Singh, Director (Projects & Technical) from NHPC.
The board of directors of the company in its meeting held on May 17th had recommended a final dividend at the rate of Rs. 0.50 per Equity share i.e. 5.00 percent of the face value for the FY 2023-24 which was approved in AGM on August 28. In addition, an interim dividend at the rate of Rs 1.40 per Equity share i.e. 14.00 percent of the face value was paid on March 05. Thus, total dividend of Rs 1.90/- per Equity share i.e. 19% of the face value has been paid for the FY 2023-24. NHPC has more than 38,00,000 shareholders and total dividend pay-out for the FY 2023-24 including interim dividend worked out to Rs 1908.56 crore as against Rs 1858.33 crore for FY 2022-23.
In terms of the 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 percent of PAT or 5% of Net worth, whichever is higher. In line with the ibid guidelines, NHPC has paid total dividend of Rs 1908.56 crore which works out to 5.12% of net worth of the company and 50.98 percent of PAT for the FY 2023-24. NHPC had earned net profit of Rs 3743.94 crore for the FY 2023-24 as against the previous period corresponding figure of Rs 3833.79 crore.
