NEW DELHI: State-run hydro power giant NHPC on Wednesday paid an interim dividend of ₹ 526.53 crore to the central government for 2018-19.

The dividend payout bank advice was presented to Power Minister R K Singh by NHPC Chairman and Managing Director Balraj Joshi on Wednesday, a company statement said.

The board of directors of the company in its 422nd meeting held on February 8 had declared an interim dividend at the rate of ₹ 0.71 per equity share i.e. 7.10 per cent of the face value.

The NHPC has more than seven lakh shareholders and total interim payout for 2018-19 worked out to ₹ 713.20 crore. The company had paid the total dividend of ₹ 1,436.31 crore at the rate of ₹ 1.40 per share for 2017-18 that includes an interim dividend of ₹ 1,149.05 crore at the rate of ₹ 1.12 per share and final dividend of ₹ 287.26 crore at the rate of ₹ 0.28 per share.

#NHPC paid interim dividend of Rs. 526.53 crore to Govt. of India for Financial Year 2018-19. The dividend payout bank advice was presented to Shri R.K. Singh, Union Minister of State (I/c), Power and New & Renewable Energy by Shri Balraj Joshi, CMD, NHPC on 6.03.19 @MinOfPower pic.twitter.com/8Lnw4Ts1PL

— NHPC Limited (@nhpcltd) March 6, 2019

According to the Department of Investment and Public Asset Management guidelines issued in May 2016 on the Capital Restructuring of CPSEs, each CPSE would pay a minimum annual dividend at the rate of 30 per cent of profit after tax (PAT) or 5 per cent of net worth, whichever is higher.

In line with the guidelines, NHPC had paid the total dividend of ₹ 1,436.31 crore i.e. 5.07 per cent of net worth and 52.07 per cent of the PAT of the company for 2017-18.

NHPC had earned a net profit of ₹ 2,138.26 crore for the nine months ended December 2018, against ₹ 2569.23 crore the year-ago period. The company had earned a net profit of ₹ 2,758.65 crore for 2017-18. PTI KKS HRS

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