PowerGrid declares total dividend of Rs 4,357.92 cr for 2018-19

New Delhi, September 5 () The state utility company Power Grid Corporation announced on Thursday the final dividend of Rs 1,307.90 rupees, in addition to Rs 3,050.02 million provisional dividends for 2018-19, carrying the payment total to Rs 4,357.92 rupees.

An RTGS (real-time gross settlement) council of Rs 698.81 rupees towards the final dividend (from government participation) for 2018-19 was handed over by Power Grid CMD K Sreekant to Energy Minister RK Singh on Thursday, he said A statement from the company. Secretary of power Subhash Chandra Garg was also present at the event.

In addition to this, a provisional dividend of Rs 1,629.62 crore (government participation) was previously paid to the Ministry of Energy for 2018-19, the company added.

The total dividend of Rs 4,357.92 rupees declared by Power Grid is 83.30 percent of the paid-up share capital compared to last year's total dividend of Rs 2,746.59 rupees - 52.50 percent of the paid-up share capital .

The dividend of Rs 4,357.92 rupees is approximately 43.85 percent of the after-tax earnings of Rs 9,938.55 rupees in the fiscal year. The company has been consistently paying dividends since 1993-94. The company posted a net profit of Rs 9,938.55 rupees on a total income of Rs 35,618.07 rupees in 2018-19, a growth of 20.55 percent in net profits and 15.77 percent in total revenues compared to 2017-18 in independently, he added. KKS BAL