Ten PSUs told to cough up more dividend

Govt officials to meet senior mangement of six more PSUs with similar demand on Monday.

Shareholders of 16 public sector companies could be in for a dividend bonanza. The finance ministry today asked 10 public sector undertakings to explore the possibility of paying more than the prescribed dividend level so that the companies did not have idle cash with them.

The PSUs include Steel Authority of India Ltd, Bharat Heavy Electricals Ltd, Nalco, Mahanagar Telephone Nigam Ltd, GAIL (India) Ltd, Bharat Sanchar Nigam Ltd, Neyveli Lignite, National Mineral Development Corporation and Coal India Ltd.

As part of efforts to raise resources, the government also asked the state-owned companies to determine how much profits they could share with it by way of special dividend. However, the government has not set any target for raising of resources from the exercise.

Expenditure Secretary Adarsh Kishore and Economic Affairs Secretary Ashok Jha, who met the senior management of the 10 companies this afternoon, are scheduled to meet representatives from six other PSUs "" NTPC Ltd, Power Finance Corporation, Rural Electrification Corporation, Shipping Corporation, Nuclear Power Corporation and Hindustan Aeronautics Ltd "" on Monday with similar demands.