SJVNL declares Rs.328.20 crore dividend
By IANSThursday, September 16, 2010
SHIMLA - The Satluj Jal Vidyut Nigam Limited (SJVNL), which owns and operates the 1,500-MW Nathpa-Jhakri hydropower project in Himachal Pradesh, has declared a dividend of Rs.328.20 crore for 2009-10 fiscal, an official said here Friday.
“The annual general meeting Wednesday passed the dividend of Rs.0.80 per share amounting to Rs.328.20 crore, which works out to be 7.95 percent of the paid up capital and 33.75 percent of profit after tax,” chairman and managing director H.K. Sharma told IANS.
He said the dividend includes an interim dividend of Rs.80 crore already paid to the equity partners.
SJVNL, the sixth divestment deal of the UPA government in its second term, is a joint venture between the central and the Himachal Pradesh government. The former held a 74.5 percent stake, while the remaining 25.5 percent is held by the state government.
However, the central government sold its 10 percent equity in May this year.
Currently, SJVNL, which commenced commercial generation from its maiden project in Kinnaur district in 2004-05, has accumulated reserves of Rs.2,528 crore.
The power utility reported a net profit of Rs.972.74 crore for the 2009-10 fiscal.
