NHPC pays final dividend of Rs 338.5 crore to Centre for FY24

State-owned hydro powerfulness elephantine NHPC connected Monday said it has paid a last 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 connected March 5, 2024, aggregating a full dividend of Rs 1,286.33 crore for the full fiscal year, the institution said successful a statement.

"NHPC has paid a last dividend of Rs 338.51 crore to Government of India for the FY2023-24 connected September 20, 2024," a institution connection said.

The dividend payout slope proposal was presented to Union Minister of Power and Housing and Urban Affairs Manohar Lal Khattar by NHPC CMD R K Chaudhary connected Monday, it said.

The company's committee of directors successful its gathering connected May 17, 2024 recommended a last dividend astatine the complaint of Rs 0.50 per equity stock i.E. 5 per cent of the look worth for 2023-24 that was approved successful the yearly wide gathering connected August 28, 2024.

In addition, an interim dividend astatine the complaint of Rs 1.40 per equity share, oregon 14 per cent of the look value, was paid connected March 5, 2024.

Thus, full dividend of Rs 1.90 per equity share, oregon 19 per cent of the look value, has been paid for 2023-24, the institution said.

NHPC has much than 38 lakh shareholders and the full dividend payout for 2023-24, including interim dividend, worked retired to Rs 1,908.56 crore arsenic against Rs 1,858.33 crore for 2022-23.

In presumption of the Department of Investment & Public Asset Management (DIPAM) guidelines dated May 27, 2016 connected superior restructuring of CPSEs, each CPSU is required to wage a minimum yearly dividend astatine 30 per cent of the nett profit, oregon 5 per cent of the nett worth, whichever is higher.

NHPC earned a nett net of Rs 3,743.94 crore for 2023-24 arsenic against the erstwhile play corresponding fig of Rs 3,833.79 crore.