PFC Sets Record with Highest-ever Interim Dividend Payment of Rs. 2,033 Crores to Indian Govt

GG News Bureau
New Delhi, 4th April. In a remarkable financial move, Power Finance Corporation Ltd. (PFC), a prestigious Maharatna Central Public Sector Enterprise and a leading Non-Banking Financial Company (NBFC) in the power sector, has made history by disbursing an interim dividend of Rs. 2,033 crores to the Government of India.

This substantial payout marks the third interim dividend for the financial year 2023-24, further solidifying PFC’s position as a key contributor to the nation’s financial well-being.

This recent dividend disbursement adds to the significant sums previously paid out, with PFC having already provided the Government of India with Rs. 832 crores as the first interim dividend and Rs. 647 crores as the second interim dividend earlier in the fiscal year.

The formal presentation of the interim dividend Real Time Gross Settlement (RTGS) intimation advice took place in New Delhi on April 3, 2024. The distinguished gathering included Union Minister for Power and New & Renewable Energy, Shri R.K. Singh, and Secretary of the Ministry of Power, Shri Pankaj Agarwal. Leading the delegation from PFC was CMD Smt. Parminder Chopra, accompanied by Director (Projects) Shri Rajiv Ranjan Jha and Director (Commercial) Shri Manoj Sharma.

The impressive third interim dividend, set at 30% or Rs. 3 per equity share of face value Rs. 10 each, was sanctioned by the Board of Directors during their meeting held on March 11, 2024. This decision underscores PFC’s commitment to delivering value to its shareholders while maintaining financial stability.

With this latest dividend disbursement, the cumulative interim dividends issued by PFC to its shareholders for the financial year 2023-24 reaches a staggering Rs. 3,630 crores. This amounts to a remarkable 110% payout, equivalent to Rs. 11 per equity share of face value Rs. 10 each, marking it as the highest-ever interim dividend disbursed by PFC.