NTPC declares Rs.28.85 bn dividend

October 7th, 2008 - 7:19 pm ICT by IANS  

New Delhi, Oct 7 (IANS) The state-owned power generation firm National Thermal Power Corp Ltd (NTPC) has declared Rs.28.85 billion ($641 million) as dividend to shareholders for 2007-08, the power ministry announced here Tuesday.The ministry said in a release that the dividend was the highest ever declared by the firm, that accounts for nearly 30 percent share of the country’s power generation capacity.

According to the release, the dividend of Rs.28.85 billion was 35 percent of NTPC’s paid up capital, which is the total amount of shareholder capital that has been paid in fully by them.

However, the actual outgo on account of dividend payment was lesser, after shareholders approved a lower dividend payment.

“The shareholders of the company approved a final dividend of eight percent amounting to Rs.659.63 crore (Rs.6.59 billion) at the 32nd annual general meeting of the firm held Sep 17 this year,” the ministry said.

NTPC chairman and managing director R.S. Sharma has presented a cheque of Rs.5.9 billion to Power Minister Sushil Kumar Shinde as the share of the federal government.

NTPC had earlier paid a provisional dividend of Rs.19.92 billion in February this year. In 2006-07, the company had paid Rs.23.61 billion as dividend.

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