NHPC Decleared Rs 1.40 per Equity share,When Government will declare CMD of NHPC
NHPC, a premier hydropower Company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India has paid an interim dividend of Rs 997.75 Crore to the Government of India for the financial year 2022-23 on 2nd March 2023. Shri R.K. Vishnoi, CMD, NHPC handed over the Interim dividend payout advice of Rs 997.75 Crore to Shri R.K. Singh, Hon’ble Union Minister of Power, New and Renewable Energy in the presence of Shri Alok Kumar, Secretary (Power) Government of India, Shri Ashish Upadhyaya, Special Secretary & FA, Ministry of Power, Shri Ajay Tewari, Additional Secretary, Ministry of Power, Shri Mohammad Afzal, Joint Secretary (Hydro), Ministry of Power, Shri R.P. Goyal, Director (Finance), NHPC and Shri S.N. Upadhyay, Executive Director (Finance), NHPC on 2nd March 2023 at New Delhi.
NHPC had already paid Rs 356.34 crore to the Government of India during the current fiscal 2022-23 on account of the final dividend for the financial year 2021-22. Thus, NHPC has paid a total dividend of Rs 1354.09 crore to the Government of India during the financial year 2022-23. The Board of Directors of the Company in its meeting held on 7th February 2023 had declared an interim dividend at the rate of Rs 1.40 per Equity share i.e. 14.00% of the face value. NHPC today has more than eight lakh shareholders and the total interim dividend pay-out for the financial year 2022-23 worked out to Rs 1406.30 crore. The Company had paid an interim dividend of Rs. 1.31 per share with a total outflow of Rs 1315.90 crore for the financial year 2021-22 in addition to a final dividend of Rs 0.50 per share with the total outflow of Rs 502.25 crore. Thus, a total dividend of Rs 1.81 per share with a total outflow of Rs 1818.15 crore had been paid for the financial year 2021-22.
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% of PAT or 5% of the Net worth, whichever is higher. In line with the ibid guidelines, NHPC has paid a total dividend of Rs 1818.15 crore which works out to 5.43% of the net worth of the Company for the financial year 2021-22.
NHPC had earned a net profit of Rs 3264.32 crore for the nine months ended FY’23 as against the previous period’s corresponding figure of Rs 2977.62 crore. The Company earned net profit of Rs 3537.71 crore for the financial year 2021-22.