Power Finance Corporation Pays Third Interim Dividend, Total Dividend Reaches Record High

New Delhi: Power Finance Corporation Ltd. (PFC), a prominent Maharatna Central Public Sector Enterprise and India’s leading NBFC in the power sector, has announced the payment of Rs. 554 crores as the third Interim Dividend for the financial year 2023-24 to the Government of India, in addition to the previous dividends.

The third Interim Dividend of Rs. 554 crores adds to the first interim dividend of Rs. 832 crores and the second interim dividend of Rs. 647 crores, previously paid by PFC to the Government of India.

The RTGS (Real Time Gross Settlement) intimation advice for the third interim dividend was presented to the Union Minister for Power and New & Renewable Energy, Shri R.K. Singh, and Secretary, Ministry of Power, Shri Pankaj Agarwal, by Smt. Parminder Chopra, CMD of PFC, in New Delhi on April 3, 2024. Also present on the occasion were Shri Rajiv Ranjan Jha, Director (Projects), PFC, and Shri Manoj Sharma, Director (Commercial), PFC.

The third interim dividend, amounting to 30% or Rs. 3 per equity share of face value Rs. 10 each, was declared by the Board of Directors in a meeting held on March 11, 2024.

This dividend payout brings the total interim dividends paid by PFC to its shareholders for the financial year 2023-24 to Rs. 3,630 crores, at an impressive rate of 110% or Rs. 11 per equity share of face value Rs. 10 each. Notably, this marks the highest-ever interim dividend paid by PFC, showcasing its commitment to rewarding its shareholders.