Business

BHEL proposes 79% dividend for FY’17, highest in 3 years

State-run power equipment maker BHEL has proposed an equity dividend of 79 %, including 40 % interim dividend paid earlier, for 2016-17.

“Significantly, not only is this four times the dividend paid (20 %) in the previous year but also the highest to be paid by the company in the last three years,” BHEL has said in a statement on Monday.

It ahs maintained its impeccable track record of rewarding investors by paying dividends uninterruptedly for four decades

In 2016-17, it had achieved double digit growth in its topline and bounced back into profit and also recorded a turnover of ₹ 28,840 crore, up 11 % over the previous year, after reversing the trend of negative topline growth in the last three years.

The company ahd also returned to profitability with a Profit Before Tax (PBT) of ₹ 628 crore in the fiscal, compared to a loss of Rs 1,164 crore (IND-AS restated) in 2015—16.

The Net Profit (PAT) stood at Rs 496 crore in 2016-17, against a net loss of ₹ 710 crore (IND-AS restated) in the previous year.

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Printable version | Feb 19, 2020 12:43:19 PM | https://www.thehindu.com/business/bhel-proposes-79-dividend-for-fy17-highest-in-3-years/article18722523.ece

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