NHPC pays final dividend of Rs. 338.51 Crore to Government of India for the FY 2023-24

NHPC
NHPC pays final dividend of Rs. 338.51 Crore to Government of India for the FY 2023-24

NHPC, a premier hydro power Company and a ‘Navratna’ Enterprise of the Government of India has paid a final dividend of Rs. 338.51 Crore to Government of India for the F.Y. 2023-24 on September 20th, 2024. In addition, an interim dividend of Rs. 947.82 Crore for the F.Y. 2023-24 was paid on March 05, 2024 aggregating total dividend of Rs. 1286.33 Crore for the F.Y. 2023-24.
 
The dividend payout bank advice was presented to Shri Manohar Lal, Hon’ble Union Minister of Power and Housing and Urban Affairs by Shri R.K. Chaudhary, CMD, NHPC on 23rd September, 2024 in the presence of Shri Pankaj Agarwal, Secretary (Power), Shri Srikant Nagulapalli, Additional Secretary (Power), Shri Mohammad Afzal, Joint Secretary (Hydro) from Ministry of Power and Shri R.P. Goyal, Director (Finance), Shri Uttam Lal, Director (Personnel) and Shri Sanjay Kumar Singh, Director (Projects & Technical) from NHPC.
The Board of Directors of the Company in its meeting held on 17th May, 2024 had recommended a final dividend at the rate of Rs. 0.50 per Equity share i.e. 5.00% of the face value for the F.Y. 2023-24 which was approved in AGM on 28th August, 2024. In addition, an interim dividend at the rate of Rs. 1.40 per Equity share i.e. 14.00% of the face value was paid on March 05, 2024. Thus, total dividend of Rs. 1.90/- per Equity share i.e. 19.00% of the face value has been paid for the F.Y. 2023-24. NHPC today has more than Thirty eight lakh shareholders and total dividend pay-out for the F.Y. 2023-24 including interim dividend worked out to Rs.1908.56 Crore as against Rs.1858.33 Crore for F.Y. 2022-23.
 
In terms of Department of Investment & Public Asset Management (DIPAM) Guidelines dated 27th May, 2016 on Capital Restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend at the rate of 30% 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% of PAT for the F.Y. 2023-24. NHPC had earned net profit of Rs.3743.94 crore for the F.Y. 2023-24 as against the previous period corresponding figure of Rs. 3833.79 crore.
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Faridabad
23.09.2024