BHEL pays 40% Interim Dividend for fiscal 2018-19
Highest Total Dividend outflow in the last 5 years
Deepthi | Myequity news | Date : 27-02-2019 12:35:00 IST
Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 40% for fiscal 2018-19. In value terms, this dividend paid amounts to Rs.279 Crore. With this, the company has maintained its impeccable track record of rewarding investors by paying dividends uninterruptedly for over four decades.
Significantly, with this BHEL has paid the highest total dividend in a single year, in the last five years.
A cheque of Rs.176 Crore towards the interim dividend for the year 2018-19 on the equity (63.17%) held by the Government of India, was presented here to Sh. Anant G. Geete, Hon'ble Union Minister of Heavy Industries and Public Enterprises by Sh. Atul Sobti, Chairman and Managing Director, BHEL, in the presence of Dr. A.R. Sihag, Secretary, Department of Heavy Industry (DHI).
Directors on the board of BHEL and senior officials of the Ministry of HI&PE were also present on this occasion. Accelerating its growth momentum, BHEL has reported a surge in revenue and profitability up to the third quarter of FY2018-19. The company has delivered a resilient performance due to adoption of strategic initiatives like diversification into new business areas (higher-rating electric locomotives, solar equipment and projects, enhanced offerings for nuclear primary side, e-mobility product & solutions and railway electrification, etc.), accelerated project execution and cost control & resource optimization measures, resulting in significant progress in enhancing profitability and productivity.