NHPC Dividend History and Yield Analysis 2026

Featured Snippet Answer: NHPC pays an annual dividend of around Rs.2 per share, a yield near 2.4% at a Rs.79.39 share price (27 Jul 2026), reflecting a stable but modest-yield hydropower PSU.

Key Takeaways

• NHPC’s trailing 12-month dividend is approximately Rs.2.00 per share.
• The dividend yield is roughly 2.4%, on the lower end among PSU dividend payers.
• NHPC is India’s largest hydropower generation company, with long-term, regulated power purchase agreements.
• Dividends are paid semi-annually, with the last ex-dividend date on 10 February 2026.
• NHPC’s revenue is comparatively stable due to long-term power supply contracts, unlike commodity-price-driven PSUs.

A Stable, Regulated Utility Rather Than a Commodity Play

NHPC’s dividend profile differs meaningfully from commodity-linked PSUs like ONGC or NMDC. As India’s largest hydropower generator, NHPC typically sells power under long-term power purchase agreements (PPAs) with regulated tariffs, which produces more predictable revenue than a business dependent on volatile commodity prices. This stability is reflected in a comparatively modest but consistent dividend, rather than the larger swings seen at mining or oil-and-gas PSUs.

Dividend History and Trend

Metric	Value
Trailing 12-month dividend	Rs.2.00/share
Most recent quarterly	Rs.1.40/share (Dec 2025 quarter)
Latest dividend	Rs.1.91/share
Last ex-dividend date	10 Feb 2026

Source: NHPC corporate actions via BlinkX and Trendlyne, as of 27 July 2026.

Is NHPC’s Dividend Safe?

NHPC’s dividend is well-supported by regulated tariff structures and long-term power purchase agreements, which provide earnings visibility that commodity-linked PSUs lack. The primary risks are hydrology-dependent (rainfall and river flow variability affecting generation volumes in a given year) and regulatory (tariff-setting decisions by power regulators), rather than market-price volatility.

Common Mistakes Investors Make With NHPC

Investors sometimes expect NHPC’s yield to match higher-paying PSU commodity stocks, overlooking that NHPC’s business model — regulated utility generation — inherently produces more modest, stable payouts rather than high, cyclical ones. Comparing NHPC directly to NMDC or Vedanta on yield alone misses this fundamental business-model difference.

Should You Hold NHPC for Dividend Income?

NHPC suits investors who want stable, regulated-utility exposure with predictable dividend behavior, rather than the highest possible current yield. It works well as a lower-volatility component within a diversified PSU income portfolio.

How NHPC Compares to Other Power-Sector PSUs

For investors weighing NHPC against other power-related PSU dividend stocks, the key differentiator is business model. NHPC generates power directly and sells it under regulated tariffs, while a company like PFC finances power infrastructure projects rather than generating electricity itself. This means NHPC’s earnings are more directly tied to actual generation volumes and hydrology conditions, whereas PFC’s earnings depend on lending spreads and loan-book credit quality. Investors seeking pure power-generation exposure with dividend income should look at NHPC directly; those wanting power-sector financing exposure with typically higher yields should consider PFC instead.

Frequently Asked Questions

What is NHPC’s current dividend yield?

NHPC’s dividend yield was approximately 2.4% as of 27 July 2026, based on a Rs.79.39 share price.

Why is NHPC’s dividend yield lower than commodity PSUs?

NHPC operates as a regulated hydropower utility with long-term power purchase agreements, producing more stable but comparatively modest earnings and dividends than commodity-price-driven PSUs.

How often does NHPC pay dividends?

NHPC pays dividends semi-annually.

What risks affect NHPC’s dividend?

The main risks are hydrology-related (rainfall and river flow variability affecting power generation volumes) and regulatory tariff-setting decisions, rather than commodity price swings.

Is NHPC a good stock for retirement income?

NHPC can work well for retirement income investors who prioritize stability and predictability over maximum current yield.

Is NHPC’s dividend growing?

NHPC’s dividend has shown modest fluctuation across recent quarters, reflecting typical regulated-utility payout patterns rather than aggressive growth.

Related Dividend Analysis

• NTPC Dividend History
• PFC Dividend History
• Dividend Yield Calculator