SJVNL declares dividend of Rs.405.39 crore

Public sector Satluj Jal Vidyut Nigam Ltd (SJVNL), a company that owns and operates India's largest hydropower project in Himachal Pradesh, Tuesday announced a dividend of Rs.405.39 crore, an increase of Rs.8.27 crore over the last fiscal.

A dividend of Re.0.98 per share was approved at a meeting with shareholders here against the dividend of Re.0.96 per share for the previous year, the company said in a statement.

It said this was the highest ever dividend paid by SJVNL since commissioning of its 1,500 MW Nathpa Jhakri Hydro Power Station in Kinnaur district in 2003-04.

SJVNL is a joint venture between the central and the Himachal Pradesh governments. The former holds 74.5 per cent stake, while the remaining 25.5 per cent is held by the state government.

However, the central government sold 10 percent equity in May 2010.

The company said the central government would get a dividend of Rs.261.35 crore, while the Himachal Pradesh government Rs.103.37 crore and the shareholders Rs.40.66 crore.

SJVNL has earned a total revenue of Rs.2,110.72 crore as against Rs.1,927.36 crore and a net profit of Rs.1,114.36 crore in 2013-14.