New Delhi, Sept. 15
Bharat Heavy Electricals Ltd (BHEL) has announced an all-time high dividend payout of 145 per cent of its equity share capital for 2005-06, beating the previous high of 80 per cent announced for 2004-05.
The company's turnover for the last fiscal stood at Rs 14,525 crore, while the company's net profit was at Rs 1,679 crore, according to audited figures announced by the company at its 42nd AGM on Friday.
The board of directors at its meeting on May 31 this year had recommended a final dividend of 20 per cent of the company's equity for 2005-06, making it a total dividend of 145 per cent, including an interim dividend of 40 per cent and special dividend of 85 per cent paid earlier during the year.
The total outgo on account of the dividend payout for the company is around Rs 355 crore, which is about 21 per cent of the net profit for the fiscal. The Union Government is the major beneficiary by virtue of its 67.72 per cent holding in the equipment major.
"With a comfortable order book position of Rs 37,600 crore, at the close of the financial year, the company expects to achieve a healthy top and bottomline growth in 2006-07 and beyond," the BHEL CMD, Mr A.K. Puri, said addressing shareholders at the AGM.Related Stories:
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