Govt likely to collect all-time high dividend of Rs 63056 crore from 67 listed PSUs for FY23 - Moneycontrol

The Centre is likely to receive huge earnings in form of dividend from the listed public sector undertakings (PSUs). As per the final dividend proposed by the PSUs, the government is expected to get a net dividend of about Rs 63,056 crore from 67 listed PSUs for FY23, which will be the highest ever dividend, according to a report in the Business Standard. The amount is approximately 25 per cent more than the dividend of Rs 50,583 crore received in FY22 from listed state-owned companies. More importantly, the total dividend income for FY23 may increase further as PSUs such as GAIL (India), Hindustan Copper and Balmer Lawrie are yet to disclose their final equity dividend. The dividend for FY23 is, therefore, almost double the Rs 29,049 crore it received from these PSUs in FY2019 before the pre-Covid financial year. Earlier, the Centre had received the highest dividend of Rs 42,150 crore in FY 2014. State-controlled banks and financial institutions are likely to give about Rs 18,000 crore for FY23. That is a hike of 56 per cent over their FY22 contribution of Rs 11,525 crore. Also Read: Morning Scan: All the big stories to get you started for the day Non-financial PSUs such as Oil and Natural Gas Corporation (ONGC), Coal India, ONGC, NTPC and PowerGrid Corp are likely to give about Rs 45,000 crore to the government for FY23, up 15.4 per cent from Rs 39,059 crore in FY22, the report mentioned. The analysis is based on the interim and final dividends proposed by listed PSBs for FY23 as reported in their financial results for the fiscal year. The Centre’s share in the dividend is based on its shareholding in these companies. The 67 listed PSUs are likely to contribute a total dividend of Rs 1.02 lakh crore for FY2023, which is higher than the Rs 84,665 crore distributed in FY22. Also Read: LIC Q4 profit surges nearly 6-fold to Rs 13,428 crore; dividend declared A major part of this dividend payment by the PSUs for FY23 will be reflected in the government's non-tax revenue for FY24. According to the Union Budget 2023-24, the government is expected to earn dividends and profits of Rs 43,000 crore from central non-financial PSUs in FY24.

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Govt likely to collect all-time high dividend of Rs 63,056 crore from 67 listed PSUs for FY23 - Moneycontrol
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