Moneycontrol
Jan 12, 2017 03:30 PM IST | Source: Moneycontrol.com

NHPC shares gain 12% on interim dividend announcement

Shares of NHPC, the hydropower generation company, hit fresh 52-week high of Rs 30.60, up nearly 12 percent intraday Thursday after announcement of interim dividend.

 
 
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Shares of NHPC, the hydropower generation company, hit fresh 52-week high of Rs 30.60, up nearly 12 percent intraday Thursday after announcement of interim dividend.


"The board of directors today has declared an interim dividend at 17 percent of the face value of Rs 10 per share (i.e. Rs 1.70 per equity share) on the paid up equity share capital, for the financial year 2016-17," the state-run power company.


It has fixed January 20 as record date for payment of interim dividend. It is the highest dividend payment by the company since September 2010.


Meanwhile, last week, the company has signed power purchase agreement in respect of upcoming projects Tawang I & II in Arunachal Pradesh, with Power & Electricity Department, Government of Mizoram for a period of 35 years from the date of commercial operation of project.

At 15:11 hours IST, the stock was quoting at Rs 29.95, up Rs 2.55, or 9.31 percent on the BSE.

Posted by Sunil Shankar Matkar

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