BHEL pays 110 per cent interim dividend for 2009-10
17 February 2010
Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 110 per cent on an enhanced post-bonus equity capital for fiscal 2009-10 as against 90 per cent paid in the year before.
B P Rao, the company's chairman and managing director, today presented a dividend cheque of Rs364.66 crore to Vilasrao Deshmukh, minister of heavy industries and public enterprises, towards the interim divided for the year 2009-10.
The government holds an equity stake of 67.72 per cent in the company.
BHEL has maintained an unmatched track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades, the company said in a release.
The company expects its growth momentum to accelerate in the current fiscal. With an order book position of over Rs1,34,000 crore at the end of the third quarter, the company expects to achieve robust growth in 2009-10 and beyond.
The company recorded significant growth in its turnover and, despite a wage revision, maintained its profitability in the first nine months of 2009-10.