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Corporate - Dividend Announcement
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States - Kerala
Kerala Power Finance pays 20% dividend

Our Bureau

Thiruvananthapuram , Dec. 21

The Kerala Power Finance Corporation (KPFC) has paid 20 per cent dividend to the State Government and Kerala State Electricity Board (KSEB), joint promoters of the company.

KPFC recorded an income of Rs 98.94 crore and a net profit of Rs 1.98 crore in 2005-06. Of the total dividend of Rs 39.7 lakh, the State Government's share is Rs 23.58 lakh and that of KSEB Rs 16.12 lakh.

According to Mr V.V. Koshy, Managing Director, the company's annual general meeting held on November 11, 2006, had formally approved the Government's decision to rename the company as `Kerala State Power and Infrastructure Finance Corporation Ltd.'

FUNDS MOBILISATION

He said the company had mobilised Rs 1,003 crore since going operational in 1999 through bonds, term loans from banks and fixed deposits from the public.

Apart from dividend, KPFC had paid Rs 23.31 crore to the State Government as guarantee commission.

The company has launched a loan scheme to provide financial assistance to firms supplying electrical components to KSEB. Under this category, Rs 7 crore has been disbursed as short-term loans till date.

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