HUDCO hands over Rs 174.23 Crore cheque as final dividend to largest shareholder Ministry of Housing

The Housing and Urban Development Corporation Limited (HUDCO), a government corporation under the ownership of the Ministry of Housing and Urban Affairs, has paid a total dividend of Rs 435.41 crore to its shareholders for the Financial year 2020-21.

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HUDCO on Tuesday handed over a cheque of Rs 174.23 Crore as final dividend to the Minister of Housing and Urban Affairs Shri Hardeep Singh Puri, as part of the share of the Ministry of Housing and Urban Affairs(MoHUA).

Ministry of Housing and Urban Affairs is the largest shareholder in the company, having a 61.08 percent share. 20.73 percent share is with the Ministry of Rural Development while the public holding is 18.19 percent.

The Company earned a Gross profit of Rs 2268.64 Crore in 2020-21, compared to Rs 2174.53 Crore last year. HUDCO had announced a total dividend of 21.25 percent to its shareholders. It had earlier paid an interim dividend of Rs 103.71 Crore at 7.5 percent.

The shareholding of MoHUA at the time of the interim dividend was 69.08 percent which was subsequently reduced to 61.08 percent after divestment. It also paid Rs 50 Crore as an unspent CSR fund to the government account. 

HUDCO shares today ended at Rs 45.10 on the NSE, up almost 0.6 per cent from the Monday closing price.