BHEL announced the highest ever dividend of 40 percent for FY 2018-19by Opinion Express February 28, 2019 0 comments
The Bharat Heavy Electricals Limited (BHEL) has surprised everyone by announcing an interim dividend of 40 per cent for fiscal 2018-19, which amounts to about Rs 279 crore. With this move, the company has maintained its impeccable track record of rewarding investors by uninterruptedly paying high dividends for over four decades. Significantly, with this, BHEL has paid the highest total dividend in a single year, in the last 5 years.
Atul Sobti, the chairman and managing director of BHEL, in the presence of Dr AR Sihag, Secretary, Department of Heavy Industry (DHI), presented a cheque of Rs 176 crore towards the interim dividend for the year 2018-19 on the equity (63.17 per cent) held by the Government of India, to Anant G Geete, the Union Minister of Heavy Industries and Public Enterprises.
Accelerating its growth momentum, BHEL has reported a surge in revenue and profitability up to the third quarter of FY 2018-19. 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 and solutions and railway electrification and so on), accelerated project execution and cost control and resource optimisation measures, resulting in significant progress in enhancing profitability and productivity.
Courtesy & Writer: The Pioneer