NHPC, a premier hydropower company and a 'Navratna' enterprise under the Government of India, has declared a final dividend of Rs 338.51 crore for the financial year 2023-24. This payout reflects NHPC's commitment to delivering value to its stakeholders and supporting national development.
The final dividend advice was officially presented by Shri R.K. Chaudhary, CMD of NHPC, to Shri Manohar Lal, Hon’ble Union Minister of Power and Housing & Urban Affairs, during a ceremony attended by senior officials from both the Ministry of Power and NHPC.
This final dividend is part of a larger total dividend distribution for FY 2023-24, amounting to Rs 1,286.33 crore. Earlier in the financial year, NHPC had disbursed an interim dividend of Rs 947.82 crore on March 5, 2024. The cumulative total of Rs 1.90 per equity share, representing 19.00 per cent of the face value, underscores the company's robust performance and dedication to shareholder returns.
The NHPC Board of Directors approved the final dividend of Rs 0.50 per equity share (five per cent of the face value) during its meeting on May 17, 2024, which received ratification at the Annual General Meeting (AGM) held on August 28, 2024.
Following the guidelines set forth by the Department of Investment and Public Asset Management (DIPAM), NHPC has successfully paid a total dividend of Rs 1,908.56 crore for FY 2023-24. This figure represents 5.12 per cent of the company's net worth and 50.98 per cent of its profit after tax (PAT), which was reported at Rs 3,743.94 crore for the financial year, down from Rs 3,833.79 crore in FY 2022-23.
NHPC's consistent dividend payouts and strong financial performance highlight its position as a leading entity in the hydro power sector and its ongoing commitment to contributing to the nation's energy needs and economic growth.
