Page 12 - Dividend

Government receives Rs 6,665 crore dividend from BPCL for FY21

The government has received a final dividend of Rs 6,665 crore from privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) for the 2020-21 fiscal, DIPAM Secretary said on Wednesday. "Govt received final dividend of Rs 6,665 crore from BPCL for the FY 2020-21. This includes special dividend on account of gains especially on sale of BPCL's stake in Numaligarh Refinery in March 2021," DIPAM Secretary Tuhin Kanta Pandey tweeted. In March, BPCL had sold its entire 61.5 per cent stake in Numaligarh Refinery in Assam to a consortium of Oil India Ltd and Engineers India and the Assam government for Rs 9,876 crore. The government is selling its entire 52.98 per cent stake in BPCL. Vedanta Group and private equity firms Apollo Global and I Squared Capital's India unit Think Gas have put in an expression of interest for buying the government's stake. The government has already indicated that it expects to complete BPCL privatisation in the current fiscal. The sale is key to achieving th

Hydro power giant NHPC pays Rs 249 crore dividend to government for 2020-21

State-owned hydro power giant NHPC has paid the final dividend of Rs 249.44 crore to the government for 2020-21. NHPC has paid a final dividend of Rs 249.44 Crore to the Government of India for 2020-21 on October 21, a power ministry statement said. According to the statement, NHPC CMD AK Singh handed the payment intimation advice to R K Singh, Union Minister for Power and New & Renewable Energy, here on October 26, 2021, in the presence of Power Secretary Alok Kumar. In addition, it said that an interim dividend of Rs 890.85 crore for 2020-21 was paid on March 05, 2021, aggregating a total dividend of Rs 1,140.28 crore for 2020-21. The Board of Directors in its meeting held on June 10 had recommended a final dividend at the rate of Rs 0.35 per equity share i.e. 3.50 per cent of the face value for 2020-21, which was approved in AGM on September 29, 2021. An interim dividend at the rate of Rs 1.25 per equity share i.e. 12.50 per cent of the face value was paid on March 05, ...

Govt receives around Rs 814 cr from 5 CPSEs as dividend this fiscal

The government has received nearly Rs 814 crore as dividend tranches from five CPSEs, including PFC, HUDCO and OIL, this fiscal year, DIPAM secretary said on Monday. "Dividend tranches of about Rs 296 crore and Rs 233 crore have been received respectively from PFC and HUDCO," DIPAM Secretary Tuhin Kanta Pandey tweeted. OIL, KIOCL and SJVN have paid about Rs 92 crore, Rs 99 crore and Rs 94 crore respectively as dividend tranches to the government, he added. As per the Department of Investment and Public Asset Management (DIPAM) website, so far in the current financial year (April-March), the government has received Rs 8,096 crore as dividend from central public sector enterprises (CPSEs). Besides, Rs 9,110 crore has been mobilised through disinvestment of minority stake in CPSEs.

Vedanta board approves interim dividend of Rs 6,877 crore

Vedanta Ltd on Wednesday said its board has approved an interim dividend of Rs 18.50 per equity share for FY2021-22, amounting to Rs 6,877 crore. "The board of directors of the company in its meeting held on Wednesday...have approved first interim dividend of Rs 18.50 per equity share i.e. 1850% on face value of Re 1 per share for the financial year 2021-22 amounting to Rs 6,877 crore," Vedanta Ltd said in a filing to BSE. The record date for the purpose of payment of dividend September 9. The interim dividend will be paid within stipulated timelines as prescribed under law, the filing said. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia.

Hindustan Zinc board meeting to consider interim dividend for FY22 deferred

Vedanta group firm Hindustan Zinc Ltd (HZL) on Tuesday said its board meeting scheduled on August 17 to consider interim dividend for FY2021-22 has been deferred

Rio Tinto pays $9.1-bn dividend as profit hits record on iron ore demand

Rio Tinto Group is the world's biggest iron ore miner

Reliance Industries lags peers in rewarding investors with cash pay-outs

Cash pay-outs grew at 6.6% CAGR vs 13.2% for other firms over 10 yrs

RBI tightens dividend payout norms for NBFCs, links them to bad debt

NBFCs can give dividend only if accounts are clean, NPAs not hidden, and are below 6 per cent for the last three years

RBI prescribes guidelines for distribution of dividends by NBFCs

The guidelines shall be effective for declaration of dividend from the profits of the financial year ending March 31, 2022 and onwards

HDFC Bank board declares dividend of Rs 6.50 per share for FY21

HDFC Bank on Friday said its board has declared a dividend of Rs 6.50 per share for the year ended March 2021. "A dividend of Rs 6.50 per equity share ( 650 per cent on face value of Re 1) out of the net profits for the year ended March 31, 2021, has been recommended, subject to the approval of the shareholders of the bank at its ensuing Annual General Meeting (AGM)," HDFC Bank said in a regulatory filing. If approved at the AGM, the expected date for payment of dividend in electronic form and for dispatch of physical dividend warrants would be August 2, 2021 onwards, it added. The AGM of the bank is scheduled for July 17, 2021 through video conferencing and other audio visual means. Besides, the board approved revising the re-appointment of Umesh Chandra Sarangi as an independent director from March 1, 2021 till February 29, 2024. Earlier, the board had okayed his tenure from March 2021 till February 5, 2022. Also, the board sought to appoint M M Nissim & Co LLP, chartered ...

Best of BS Opinion: New idea of India, BJP is as safe as a big bank & more

Here are the best of Business Standard's opinion pieces for Tuesday

Coal India Ltd final dividend to enrich govt by Rs 1,426 crore

The government will receive Rs 1,426 crore as dividend from Coal India Limited (CIL) after the dry fuel miner on Monday announced an additional final dividend of 35 per cent

Inflation tax masquerading as dividend income

What we have is effectively a tax though it is subtle and non-transparent as it is collected indirectly through the RBI.

CIL Q4 net marginally down at Rs 4,589 cr; declares Rs 3.5 final dividend

Revenue from operations decreased to Rs 26,700 crore as against Rs 27,568 crore a year ago

Coal India may announce 20-25% additional dividend on June 14: Report

Coal India Ltd is expected to reward its shareholders with an additional final dividend of 20-25 per cent in its board meeting that will declare fourth-quarter financial results, sources said.

Tata Sons finances escape Covid blow; TCS remains the prime cash cow

Holding firm set to get record Rs 22,000 crore dividend from group companies

Divi's Labs gains 3%, hits new high on strong March quarter results

The board has recommended a dividend of Rs 20 (i.e. 1,000 per cent) per equity share of face value Rs 2 each for the financial year 2020-21

Stock broking giant Zerodha's FY21 profit more than doubles to Rs 1,000 cr

Promoter Nithin Kamath says firm unlikely to raise external resources

Cheviot Co zooms 20% as firm announces special dividend of Rs 175 per share

The company has fixed July 16, 2021, as the record date fixed for the purpose of dividend

Boardroom bonanza: Dividend payout up 9% as India Inc sees recovery

All 268 early-bird firms in surveyed sample may pay a total of Rs 1.16 trillion