PFC Pays Record Rs 2,033 Crore In Interim Dividend To Government
The state-owned power financier shelled out Rs 554 crore last month in its third interim dividend for FY24.
Power Finance Corp. has paid a record Rs 2,033 crore to the central government in interim dividend in the last financial year.
The state-owned power financier shelled out Rs 554 crore last month in its third interim dividend for FY24. The dividend of Rs 3 per equity share was declared by the company on March 11.
This is in addition to the first interim dividend of Rs 832 crore and the second interim dividend of Rs 647 crore paid by PFC to the government earlier.
"With this, the total interim dividends paid by PFC to its shareholders for the financial year 2023-24 becomes Rs 3,630 crore, at 110% i.e. Rs 11 per equity share of the face value of Rs 10 each. This is the highest ever interim dividend paid by PFC," the Ministry of Power said in a statement on Wednesday.
Dividend payouts is one of the major non-tax source of revenue for the government. The government expects to see a higher dividend income of Rs 1.04 lakh crore, as compared with the budget estimate of Rs 48,000 crore in FY24.
PFC is a leading non-banking financial corporation under the Ministry of Power that funds power projects across India.
