REC pays Rs. 231 crore dividend to Government of India
merisarkar news service
New Delhi, September 25, 2010
Sushil Kr. Shinde receiving the cheque from JM Pathak
Dr. J.M. Phatak, Chairman and Managing Director of Rural Electrification Corporation Limited (REC), a Navratna Public Sector Undertaking presented a cheque of Rs. 230.86 crore to Sushilkumar Shinde, Union Minister of Power here yesterday.
P. Uma Shankar, Secretary (Power) and senior officials of Ministry of Power and REC were present during the event. For the Financial Year 2009-10, REC paid a total dividend of Rs. 441.62 crore including an interim dividend of Rs. 210.76 crore to the Government of India against Rs. 316.14 crore paid last year.
The Company paid total Dividend of Rs. 603.21 crore for the Financial Year 2009-10 @ Rs. 6.50 per share on the paid up capital of the Company, including Rs. 3 per share paid as Interim Dividend in January, 2010. The Company continues to register higher growth and record performance for the year 2010-11 also, in key areas of Disbursements of Loans, Recoveries, Operating Income and Profits.
The performance of the Company in terms of MoU signed with the Ministry of Power, Government of India for the financial year 2008-09 has been rated as “Excellent”.
This is the 16th year in succession that REC has received “Excellent” rating since the year 1993-94 when the first MoU was
