By: Vijay Kumar Verma, Editor-ICN Group
SJVN Declares Interim Dividend of Rs. 589.47 Crore for FY 19–Pays Rs. 368.07 Crore to Govt. of India
SHIMLA: On account of its financial performance for the year 2018-19 public sector SJVN Limited has declared an interim dividend of Rs.589.47 (@ 1.50 rupees per share) to its shareholders. SJVN Limited has also paid interim dividend of Rs. 368.07 crore to the Govt. of India holding 62.44% equity in the Company.
The dividend cheque was handed over to the Union Minister of State for Power, R.K. Singh by Nand Lal Sharma, CMD, at New Delhi today in the presence of, S.N Sahai, Additional Secretary and senior officials of the Ministry of Power. On this occasion A.S. Bindra Director (Finance), Kanwar Singh, Director (Civil) and senior officers of SJVN were also present.
Handing over the cheque Nand Lal Sharma informed the union Minister that the company has been paying back fruitfully to its shareholders. The major shareholder Government of India, he informed had been already been paid a total dividend of Rs.4257.47 Crore on an investment of Rs. 2453.78 Crore. Currently Government of India is holding 62.44 % shares of company while 26.85% shares are with Government of Himachal Pradesh & 10.71% with public.
N.L. Sharma also apprised the Minister that SJVN had sufficient reserves to contribute towards equity for its ambitious targets of becoming 5000 MW Company by 2023, 12000 MW by 2030 and 25000 MW Company by 2040. He further said that, SJVN has both technical expertise and financial backing for achieving these targets.
Besides executing Projects in Himachal Pradesh, SJVN is presently executing projects in Nepal, Bhutan, Uttrakhand, Bihar and Gujarat. The cumulative generation capacity of these projects will be 4798 MW. SJVN which has already diversified in the field of Wind Power, Thermal Power and Power Transmission is presently generating more than 2000 MW of electricity.
