Govt received ₹360 crore dividends from 5 state-owned firms: DIPAM

The Department of Investment and Public Asset Management (DIPAM) has said that the central government has received a total of ₹360 crore on a cumulative basis as dividends from five state-owned companies.

The five state-owned companies are Power Finance Corporation (PFC), Engineers India Limited (EIL), Balmer Lawrie Investments, Indian Railway Construction Limited (IRCON), and Rail India Technical and Economic Service Limited (RITES).

As per DIPAM, Government has respectively received about ₹185 crore, ₹29 crore and ₹40 crore from PFC, Engineers India Ltd and Balmer Lawrie Investments Ltd as dividend tranches.

Government has respectively received about ₹45 crore and ₹61 crore from IRCON and RITES as dividend tranches, it said.

Earlier on 10 October, dividend of ₹307 crore and ₹20 crore was received from Oil India Ltd and MSTC respectively. Prior to that on 6 October, government received about ₹81 crore and ₹31 crore from IRCTC and Bhartiya Rail Bijlee Co Ltd as dividend tranches. Apart from this, companies like SAIL, HUDCO and IREL has also paid dividend tranches of ₹604 crore, ₹450 crore and ₹37 crore respectively.

A dividend is a reward that companies often provide to their owners from a portion of their earnings.

(With inputs from ANI)