REC pays 113.43 cr final dividend to GOI

Sarkaritel
By Sarkaritel October 27, 2014 19:50

REC pays 113.43 cr final dividend to GOI


Rajeev Sharma, CMD REC presenting final dividend for FY13-14 to Mr. Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy (Independent charge)

Rajeev Sharma, CMD REC presenting final dividend for FY13-14 to Mr. Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy (Independent charge)

New Delhi, October 27 Shri Rajeev Sharma, Chairman and Managing Director of Rural Electrification Corporation Limited (REC), a Navratna Public Sector Undertaking presented a cheque towards Final Dividend for the Financial Year 2013-14, amounting to ` 113.43 crore for shareholding of Government of India in REC to Mr. Piyush Goyal,Hon’ble Minister of State for Power, Coal and New & Renewable Energy (Independent charge) on October 27, 2014 in presence of Director (Technical) and Director (Finance) of the Company. This is in addition to ` 511.19 crore paid as Interim Dividend for the Financial Year 2013-14 to the Government of India. The Company paid a total Dividend of `938.09 crore (95% on the paid-up share capital) for the Financial Year 2013-14, which includes Interim Dividend of ` 765.28crore and Final Dividend ` 172.81crore.

The Company registered record performance for the Financial Year ended March 31, 2014 in key areas of Disbursements of Loans, Recoveries, Operating Income and Profits and continues to register higher growth in the current Financial Year also. During the First Quarter ended June 30, 2014, the Company sanctioned new projects of ` 16,710 crore and disbursed ` 8465 crore to various power sector borrowers. During the first quarter of Financial Year 2014-15, the Company recorded a PBT of ` 1,774.88 crore and PAT of ` 1,282.79 crore registering a y-o-y growth @ 12% and 11% respectively.

Sarkaritel
By Sarkaritel October 27, 2014 19:50