The National Hydroelectric Power Corporation (NHPC) has completed its dividend distribution for the fiscal year 2023-24 by transferring a final payment of Rs 3.38 billion to the Government of India. This brings NHPC's total dividend for the year to Rs 12.86 billion.

R.K. Chaudhary, Chairman and Managing Director, NHPC, handed over the dividend payout advice to Union Minister of Power and Housing & Urban Affairs, Manohar Lal. The event was attended by Pankaj Agarwal, Secretary (Power), along with other senior officials from the Ministry of Power and NHPC.

Earlier in March, NHPC had distributed an interim dividend of Rs 9.47 billion for FY24, bringing the total dividend payout for the year to Rs 19.08 billion, up from Rs 18.58 billion in the previous year. In compliance with the Department of Investment & Public Asset Management (DIPAM) guidelines, which require a minimum dividend of 30% of profit after tax (PAT) or 5% of net worth, NHPC's dividend amounted to 5.12% of its net worth and 50.98% of its PAT.

For FY24, NHPC reported a PAT of Rs 37.43 billion, slightly lower than the Rs 38.33 billion recorded in FY23. At the company's Annual General Meeting on August 28, 2024, a final dividend of Rs 0.50 per equity share was approved, adding to the interim dividend of Rs 1.40 per equity share, bringing the total dividend to Rs 1.90 per equity share or 19% of the face value for the fiscal year.

NHPC, a key player in India's hydropower sector, continues to be a significant contributor to government revenues through its regular dividend payouts, benefiting over 3.8 million shareholders.

(ET)