PowerGrid declares total dividend of Rs 4,357.92 cr for 2018-19

State-owned utility Power Grid Corporation on Thursday announced final dividend of Rs 1,307.90 crore in addition to Rs 3,050.02 crore interim dividend for 2018-19, taking the total payout to Rs 4,357.92 crore.

An RTGS (real time gross settlement) advice of Rs 698.81 crore towards final dividend (of government's share) for 2018-19 was handed over by Power Grid CMD K Sreekant to Power Minister R K Singh on Thursday, a company statement said. Power Secretary Subhash Chandra Garg was also present at the event.

In addition to this, an interim dividend of Rs 1,629.62 crore (government's share) was earlier paid to the Ministry of Power for 2018-19, the company added.

The total dividend of Rs 4,357.92 crore was declared by Power Grid is 83.30 per cent of paid-up share capital as against last year's total dividend of Rs 2,746.59 crore - 52.50 per cent of paid-up share capital.

The dividend amount of Rs 4,357.92 crore is about 43.85 per cent of the profit after tax of Rs 9,938.55 crore in the fiscal. The company has been consistently paying dividend since 1993-94.

The company registered a net profit of Rs 9,938.55 crore over a total income of Rs 35,618.07 crore in 2018-19, a growth of 20.55 per cent in net profit and 15.77 per cent in total income compared to 2017-18 on standalone basis, it added.