BHEL pays 233 per cent dividend for 2009-10
24 September 2010
Navratna public sector enterprise Bharat Heavy Electricals Ltd (BHEL) has paid around Rs408 crore, which forms the final dividend payout of 123 per cent, towards dividend to the government for the year 2009-10.
With this, BHEL has paid an equity dividend of 233 per cent on the enhanced equity capital post-bonus for fiscal 2009-10, as against 170 per cent paid in the year before.
Government holds a 67.72 per cent equity in the electrical gear manufacturer.
BHEL chairman and managing director B P Rao presented the last of the dividend cheques to minister for heavy industries and public enterprises Vilasrao Deshmukh today.
Including an interim dividend of 110 per cent paid earlier, BHEL has made a total pay-out (including all shareholders) of Rs1,141 crore - the highest-ever dividend paid by the company so far.
During the 2009-10 financial year, BHEL achieved a top line growth of 22 per cent and an all-time high turnover of Rs34,154 crore. The company also recorded a quantum jump of 37 per cent in its net profit, also the highest-ever at Rs4,311 crore.
The company secured orders worth Rs59,037 crore in domestic and international markets. With an order book position of over Rs1,44,000 crore - the highest-ever both in physical as well as financial terms - at the close of the financial year, the company expects to achieve robust growth in the current and coming years.