PFC pays record interim dividend of Rs 3,630 cr for 2023-24

New Delhi: The Power Finance Corporation (PFC), a Maharatna Central Public Sector Enterprise, paid Rs 554 crore as the third interim dividend to the government on Wednesday for the financial year 2023-24.

This is in addition to the first interim dividend of Rs 832 crore and the second interim dividend of Rs 647 crore paid earlier by the PFC to the government for its share of equity. The total interim dividend paid to the government, which has a 56% stake in PFC, works out to Rs 2,033 crore.

With this, the total interim dividend paid by the PFC to its shareholders for the financial year 2023-24 stood at Rs 3,630 crore, i.e., Rs 11 per equity share of the face value of Rs 10 each.

This is the highest-ever interim dividend paid by the PFC, according to an official statement.

The third interim dividend at 30 per cent, i.e., Rs 3 per equity share of face value of Rs 10 each, was declared by the PFC Board of Directors at the board meeting held on March 11.

The interim dividend RTGS (Real Time Gross Settlement) intimation advice was presented to the Union Minister for Power and New & Renewable Energy, R.K. Singh, and Secretary, Ministry of Power, Pankaj Agarwal, by PFC Chairman and Managing Director Parminder Chopra.