PFC declares Rs 8.8/share dividend; govt to gain Rs 787.53cr

State-owned Power Finance Corporation today declared an interim dividend of Rs 8.80 per share for 2015-16, which will fetch Rs 787.53 crore to the government.
Power Finance Corp in a filing to the BSE said that its board at its meeting held on December 16, 2015, "declared and approved the payment of interim dividend @ Rs 8.80 per equity share on the face value of the paid-up equity shares of Rs 10 each for the Financial Year 2015-16".
The government, which holds 67.8 per cent stake or 89,49,24,366 shares, in the PSU, would fetch Rs 787.53 crore from the dividend payout.

The company said that interim dividend on equity shares will be paid on or after January 4, 2016.
Shares of the company closed marginally up at Rs 206.75 on BSE today.
Infrastructure finance company PFC is engaged in providing financial assistance to state power utilities for meeting financing and development requirements of the power sector.