356.34 Crores paid to GOI by NHPC in the name of a dividend

By News IP Last updated Jan 18, 2023

NHPC, a premier hydropower Company and a ‘Mini Ratna’ Category-I Enterprise of the Government of India has paid a final dividend of Rs. 356.34 Crore to the Government of India for the F.Y. 2021-22 on 19^th September 2022. The dividend payout bank advice was presented to Shri R.K. Singh, Hon’ble Union Minister of Power, New and Renewable Energy by Shri Y.K. Chaubey, CMD, NHPC on the 21^st October 2022 in the presence of Shri Alok Kumar, Secretary (Power), Government of India and Shri R.P. Goyal, Director (Finance) and Shri S.N. Upadhyay, Executive Director (Finance) from NHPC.

In addition, an interim dividend of Rs. 933.61 Crore for the F.Y. 2021-22 was paid on 4^th March 2022 aggregating a total dividend of Rs. 1289.95 Crore for the F.Y. 2021-22. The Board of Directors of the Company in its meeting held on 25^th May 2022 had recommended a final dividend at the rate of Rs. 0.50 per Equity share i.e. 5.00% of the face value for the F.Y. 2021-22 which was approved in AGM on 25^th August 2022. In addition, an interim dividend at the rate of Rs. 1.31 per Equity share i.e. 13.10% of the face value was paid on 4^th March 2022. Thus, a total dividend of Rs. 1.81/- per Equity share i.e. 18.10% of the face value has been paid for the F.Y. 2021-22. NHPC today has more than eight lakh shareholders and the total dividend pay-out for the F.Y. 2021-22 including interim dividend worked out to Rs. 1818.15 crores as against Rs. 1607.21 Crore for F.Y. 2020-21.

In terms of the Department of Investment & Public Asset Management (DIPAM) Guidelines dated 27^th May 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 and 51.39% of PAT for the F.Y. 2021-22. NHPC earned a net profit of Rs. 3537.71 crores for the F.Y. 2021-22 as against the previous period’s corresponding figure of Rs. 3245.06 crores.