Rural Electrification Corp. Ltd. lowered its final dividend for the fiscal year ended March 31.

The India-based company said May 30 that its board recommended a final dividend of 2.65 Indian rupees per share for fiscal 2016-2017, down from the prior fiscal-year dividend of 5.10 rupees per share.

The company's total dividend for the fiscal year, including an interim dividend of 7 rupees per share, amounts to 9.65 rupees per share, down from the prior-year total dividend of 17.10 rupees per share.

As of May 30, US$1 was equivalent to 64.57 Indian rupees.