Shimla: On the back of addition of generation capacities after commissioning of 412 MW Rampur Project, public sector power company SJVN announced highest ever dividend after taking into account a record profit of Rs 1114.36 crore for 2013-14.
“At the Annual General Meeting, held here earlier in the day, shareholders approved a dividend of Rs 0.98 per share, which is highest the company has ever paid,” company spokesman Vijay Verma said.
Total dividend payout for the year would be Rs 405.39 crore, of which Rs 261.35 Cr would be paid to the central government that holds 64.47 % equity in the company, the government of Himachal Pradesh would get Rs 103.37 for its share of 25.5 % equity in SJVN and public shareholders would get Rs 40.66 crore for the 10.3 % equity with them.
SJVN that went public on 20 May, 2010 after coming out with an IPO has never reported a loss and has been giving the best dividend yields among all power sector PSUs.
Last year (2012-13) the company had reported a profit of Rs 1052.30 crore that was marginally lower than the profit of Rs 1068 crore for 2011-12 but had declared a dividend outgo of Rs 397.12 crore which was higher than Rs 388.84 in the previous year.
SJVN has reported a revenue of Rs. 2110.72 crore for 2013-14 as against Rs. 1927.36 crore in 2012-13.
After its flagship 1500 MW Nathpa Jhakri plant commissioned in 2003-04, SJVN began commercial operations from its second hydro plant in March-June. Five of the six units of 68.67 MW each at the 412 MW Rampur project have been synchronized with the northern grid and are in commercial production.
By way of capacity addition, the company’s maiden foray into wind power has begun to add to the revenue stream with commissioning of the 47.6 MW Khrivere wind energy plant in Maharashtra. Till March end 2014 a generation of 3.32 MU of clean wind energy had been achieved at this plant.
Making its presence felt across the Himalayan region, Narinder Modi on his maiden visit abroad after becoming Prime Minister of the country on 16 June, 2014 laid the foundation stone of 600 MW Kholongchhu Hydroelectric Power Project that SJVN would be executing in a joint venture with Druk Green Power Corporation, a government company of Bhutan.