Bhel pays 79% dividend for 2016-17, highest in 3 years

Bhel pays 79% dividend for 2016-17, highest in 3 years
05/10/2017 , by , in ALLIED

State-owned power equipment maker Bharat Heavy Electricals Ltd (Bhel) has paid a final equity dividend of 39% for 2016-17. With this, the total dividend paid during the year stands at 79%, including an interim one of 40% paid earlier, Bhel said in a statement on Wednesday.

The figure is four times the dividend paid in the previous year and it’s highest in the last three years. In value terms, the total dividend for 2016-17 amounts to Rs386.72 crore. With the move, the company has maintained its impeccable track record of rewarding investors by paying dividends uninterruptedly for four decades without a break.

A cheque of Rs120.39 crore towards the final dividend for 2016-17 on the equity (63.06%) held by the central government was presented by Bhel chairman and managing director Atul Sobti to heavy industries minister Anant G. Geete here on Wednesday. Bhel has paid a total dividend of Rs244 crore to the Government of India for 2016-17, including the interim dividend paid earlier.

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