The Government of India publicly holds a stake in more than 72 companies in India, according to the latest corporate shareholdings. It categorizes Central Public Sector Enterprises (CPSEs) under three different categories – Maharatna, Navratna, and Miniratna.
Based on certain criteria, there are 11 companies that have the ‘Maharatna’ status. Of these, the record date for finding the eligibility of shareholders for the entitlement of dividends from four companies fell this month, i.e., in November. Collectively, the government is set to receive ₹ 14529.57 Cr in dividends from these companies:
Power Grid Corporation of India Limited (Div yield – 5.81%)
Power Grid Corporation of India is India’s largest electric power transmission company. It functions under the aegis of the Ministry of Power. It is engaged in the planning, implementation, operation and maintenance of Inter-State Transmission System (ISTS), Telecom and consultancy services. It has a market capitalization of ₹ 1,53,007 crores and its shares were trading at ₹ 220.90 apiece at 11:38 AM on the National Stock Exchange (NSE) on Wednesday.
The company declared a dividend of ₹ 5 per share. Its shares traded ex-dividend on November 14, 2022, and the record date was on November 15, 2022. According to the latest shareholding pattern, the government holds 3,58,11,63,210 shares or a 51.3% stake in the company. This means that it will receive a dividend of ₹ 24,17,28,51,668 or ₹ 2417.28 crores from it.
Coal India Limited (Div yield – 10.12%)
Coal India Ltd is mainly engaged in the mining and production of coal and the operation of coal washeries. The major consumers of the company include the power and steel sectors, apart from cement, fertilizers, brick kilns and so on. It has a market capitalization of ₹ 1,40,017 crores and its shares were trading at ₹ 227.25 apiece at 11:41 AM on the National Stock Exchange (NSE) on Wednesday.
The company declared a dividend of ₹ 15 per share. Its shares traded ex-dividend on November 15, 2022, and the record date was on November 16, 2022. According to the latest shareholding pattern, the government holds 4,075,634,553 shares or a 66.1% stake in the company. This means that it will receive a dividend of ₹ 61,13,45,18,295 or ₹ 6113.45 crores from it.
ONGC(Div yield – 8.38%)
ONGC is the largest crude oil and natural gas Company in India. It contributes about 71% to Indian domestic production. It has a market capitalization of ₹ 1,76,438 crores and its shares were trading at ₹ 140.90 apiece at 11:42 AM on the National Stock Exchange (NSE) on Wednesday.
The company declared a dividend of ₹ 6.75 per share. Its shares traded ex-dividend on November 21, 2022, and the record date was on November 22, 2022. According to the latest shareholding pattern, the government holds 7,40,88,67,093 shares or a 58.9% stake in the company.
Tuhin Kanta Pandey, the secretary in the Department of Investment and Public Asset Management (DIPAM), said that the government received a huge dividend tranche of ₹ 5,001 crores from ONGC.
Power Finance Corporation (Div yield – 9.29%)
It is a systemically important non-deposit-taking NBFC registered with the RBI as an infrastructure finance company. It extends financial assistance to the Indian power sector. It has a market capitalization of ₹ 35,509 crores and its shares were trading at ₹ 135.60 apiece at 11:43 AM on the National Stock Exchange (NSE) on Wednesday.
The company declared a dividend of ₹ 3 per share. Its shares traded ex-dividend on November 24, 2022, and the record date was on November 25, 2022. According to the latest shareholding pattern, the government holds 1,47,82,91,778 shares or a 56.0% stake in the company. This means that it will receive a dividend of ₹ 997,84,69,502 or ₹ 997.85 crores from it.
Written by Simran Bafna
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