PFC Pays Record Interim Dividend of INR 554 Crores to Government of India
This payment marks the third interim dividend for the financial year 2023-24, reflecting PFC's strong financial performance and commitment to its stakeholders.
April 04, 2024. By Abha Rustagi
This payment marks the third interim dividend for the financial year 2023-24, reflecting PFC's strong financial performance and commitment to its stakeholders.
The interim dividend, presented as a real time gross settlement (RTGS) intimation advice, was formally handed over to the Union Minister for Power and New & Renewable Energy, R.K. Singh, and Secretary of the Ministry of Power, Pankaj Agarwal, in New Delhi. Parminder Chopra, CMD of PFC, led the presentation ceremony, which also saw the presence of key officials including Rajiv Ranjan Jha, Director (Projects), and Manoj Sharma, Director (Commercial).
The third interim dividend, amounting to INR 554 crores, adds to the first interim dividend of INR 832 crores and the second interim dividend of INR 647 crores, previously disbursed by PFC to the Government of India. These successive dividend payments highlight PFC's robust financial health and its contribution to the national exchequer.
The Board of Directors of PFC declared the third interim dividend at 30 percent i.e., INR 3 per equity share of face value INR 10 each, in its meeting held on March 11, 2024.
With this latest disbursement, the cumulative interim dividends paid by PFC to its shareholders for the financial year 2023-24 stand at INR 3,630 crores, equivalent to 110 percent i.e., INR 11 per equity share of face value INR 10 each. This sets a new record for the highest-ever interim dividend declared by PFC.
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