PTC India approves final dividend for financial year 2021-22

NEW DELHI: Leading provider of power trading solutions PTC India Limited on Monday said its shareholders approved the final dividend for the financial year that ended in March 2022.

The final dividend is Rs 5.8 per share, which is in addition to the interim dividend of Rs 2 declared by the company earlier.

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

“Shareholders have a very significant role in a company, their perception and assessment is an essential yardstick to gauge the performance of any company. In this 23rd AGM, shareholders of PTC India have voted in favour of all the resolutions with an overwhelming majority,” said Rajib K Mishra, CMD (additional charge), PTC India, through a statement.

“We are also exploring opportunities in emerging areas of Green Hydrogen, Battery Energy Storage Systems through collaborations with global technology companies,” Mishra added.

PTC India held its 23rd Annual General Meeting (AGM) and adopted all the five resolutions listed in the agenda of the AGM with a majority vote on Friday.

All the five resolutions proposed by the company regarding including the approval of the standalone/consolidated results, final dividend, re-appointment of Directors and appointment of nominee director of Ministry of Power were approved by the shareholders with an overwhelming majority, the company said.

The consolidated profits after tax for the year 2021-22 grew by 21 per cent to Rs 552 crores compared to Rs 458 crores in 2020-21.