Centre receives ₹903 cr dividend from Indian Railway Finance Corp

NEW DELHI: The Central government has received Rs 903 crore and Rs 78 crore from the Indian Railway Finance Corporation Ltd (IRFC) and RITES Ltd respectively as dividend tranches.

Department of investment and public asset management (DIPAM) tweeted the information through the Twitter handle of DIPAM secretary Tuhin Kanta Pandey.

It further informed that Rs 503 crore and Rs 66 crore have also been received from Hindustan Aeronautics Ltd (HAL) and Rashtriya Chemicals and Fertilizers Ltd (RCFL) respectively as dividend tranches.

Public sector undertakings (PSUs) are required to pay to the government a minimum annual dividend of 30 per cent of their profits or 5 per cent of their net worth, whichever is higher.