Centre receives Rs 1,701 cr from Power Grid Corp as dividend

New Delhi [India], September 13 (ANI): The central government has received about Rs 1,701 crore from Power Grid Corporation of India Limited (PGCIL) as a dividend tranche, the secretary at the Department of Investment and Public Asset Management posted on its X handle on Wednesday.

"Government has received about Rs 1701 crore from Power Grid Corporation of India Ltd. (PGCIL) as dividend tranche," the divestment secretary wrote.

A dividend is a reward companies often provide to their shareholders, though not mandatorily, from a portion of their earnings.

Headquartered in Gurugram, PGCIL is engaged mainly in the transmission of bulk power across states in India.

Earlier, on Monday, the government has respectively received about Rs 2,182 crore and Rs 460 crore from Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd as dividend tranches. (ANI)