Power Grid Corporation Of India Ltd. is unlikely to increase its dividend payout for the current financial year.
Earlier we were paying less dividend due to high capital expenditure but last year the payout was as per government norms as revenues increased, IS Jha, chairman and managing director of the state-owned power transmission company, told BloombergQuint in an interview. “Whatever we have paid last year, same type of percentage will be paid next year also.”
The company's board had recommended a final dividend of 28 percent of the share capital (Rs 2.80 per share of Rs 10 each), according to an exchange filing on May 29.
Watch the full interview here:
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