NSPCL pays in­terim div­i­dend of Rs 120 crore

Power Watch India - - DESPATCHES FINANCE -

NTPC-SAIL Power Com­pany Ltd (NSPCL), a 50:50 joint ven­ture of two Ma­haratna com­pa­nies, NTPC Ltd and Steel Author­ity of In­dia Ltd (SAIL) paid an in­terim div­i­dend of Rs 120 crore (Rs 60 crore each to NTPC and SAIL) which works out to 12.24% of paid-up eq­uity share cap­i­tal. The div­i­dend and div­i­dend distribution tax amounts to 59.57% of profit af­ter tax of com­pany achieved for the pe­riod April-De­cem­ber 2016. For the financial year 2015-16 a to­tal div­i­dend of Rs 120.00 crores was paid by the com­pany, which in­cluded in­terim div­i­dend of Rs 100 crore and fi­nal div­i­dend of Rs 20 crore and works out to 12.24% of paid-up eq­uity share cap­i­tal. The div­i­dend and div­i­dend distribution tax amounts to 58.50% of profit af­ter tax of com­pany achieved for financial year 2015-16.

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