NHPC pays Rs 249 cr dividend to government for 2020-21

NHPC has paid a final dividend of Rs 249.44 Crore to the Government of India for 2020-21 on October 21, a power ministry statement said.

According to the statement, NHPC CMD AK Singh handed the payment intimation advice to R K Singh, Union Minister for Power and New & Renewable Energy, here on October 26, 2021, in the presence of Power Secretary Alok Kumar.

In addition, it said that an interim dividend of Rs 890.85 crore for 2020-21 was paid on March 05, 2021, aggregating a total dividend of Rs 1,140.28 crore for 2020-21.

The Board of Directors in its meeting held on June 10 had recommended a final dividend at the rate of Rs 0.35 per equity share i.e. 3.50 per cent of the face value for 2020-21, which was approved in AGM on September 29, 2021.

An interim dividend at the rate of Rs 1.25 per equity share i.e. 12.50 per cent of the face value was paid on March 05, 2021. Thus, a total dividend of Rs 1.60 per share has been paid for 2020-21.

NHPC today has seven lakh shareholders (approx) and total dividend pay-out for the FY 2020-21, including interim dividend, worked out to Rs 1,607.21 crore as against Rs 1,506.76 crore for 2019.20, it said.

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 per cent of PAT (profit after tax) or 5 per cent of net worth, whichever is higher.

In line with the guidelines, NHPC has paid a total dividend of Rs 1,607.21 crore or 5.08 per cent of the net worth and 49.71 per cent of PAT for 2020-21. NHPC had earned a net profit of Rs 3,233.37 crore for 2020-21 against Rs 3,007.17 crore a year ago.