SJVNL declares Rs 328.20 Cr dividend



Shimla: Public sector company Satluj Jal Vidyut Nigam Limited (SJVNL) operating 1500-MW Nathpa-Jhakri hydropower project in Himachal Pradesh has announced a dividend of Rs 328.20 crore for 2009-10 finical year effective from closing hours of business on September 2, an official said here today.

CMD HK Sharma told HimVani that AGM (annual general meeting) on Wednesday passed cleared a dividend of Rs 0.79 per share amounting to Rs 328.20 crore, which works out to be 7.95 per cent of the paid up capital and 33.75 per cent of profit after tax. He said the dividend includes an interim dividend of Rs 80 crore already paid to the equity partners.

SJVNL, the 6th 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 per cent 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.

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