State-owned hydro power giant NHPC on Monday said it has paid a final dividend of Rs 338.51 crore to the Government of India for 2023-24.
In addition, an interim dividend of Rs 947.82 crore for 2023-24 was paid on March 5, 2024, aggregating a total dividend of Rs 1,286.33 crore for the entire fiscal year, the company said in a statement.
"NHPC has paid a final dividend of Rs 338.51 crore to Government of India for the FY2023-24 on Sept. 20, 2024," a company statement said.
The dividend payout bank advice was presented to Union Minister of Power and Housing and Urban Affairs Manohar Lal Khattar by NHPC CMD R K Chaudhary on Monday, it said.
The company's board of directors in its meeting on May 17, 2024 recommended a final dividend at the rate of Rs 0.50 per equity share i.e. 5% of the face value for 2023-24 that was approved in the annual general meeting on Aug. 28, 2024.
In addition, an interim dividend at the rate of Rs 1.40 per equity share, or 14% of the face value, was paid on March 5, 2024.
Thus, total dividend of Rs 1.90 per equity share, or 19% of the face value, has been paid for 2023-24, the company said.
NHPC has more than 38 lakh shareholders and the total dividend payout for 2023-24, including interim dividend, worked out to Rs 1,908.56 crore as against Rs 1,858.33 crore for 2022-23.
In terms of the Department of Investment & Public Asset Management guidelines dated May 27, 2016 on capital restructuring of CPSEs, each CPSU is required to pay a minimum annual dividend at 30% of the net profit, or 5% of the net worth, whichever is higher.
NHPC earned a net profit of Rs 3,743.94 crore for 2023-24 as against the previous period corresponding figure of Rs 3,833.79 crore.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
