BPCL declares record Rs 12,581 cr dividend ahead of privatisation

Climbstreet28 May, 2021News

Bharat Petroleum Corporation Ltd (BPCL) on Wednesday declared a record Rs 12,581 crore dividend, quite half of which can attend the govt, before the privatisation of the corporate. In a regulatory filing, BPCL said its ?Board of Directors has recommended a final dividend of Rs 58 per equity share (including a one-time special dividend of Rs 35 per equity share of Rs 10 each) for the fiscal year ended March 31, 2021 subject to the approval of the shareholders.? The dividend works bent Rs 12,581.66 crore, including a special dividend of Rs 7592.38 crore. The government, which is selling its entire 52.98 percent stake in BPCL, will get Rs 6,665.76 crore plus dividend distribution tax. The dividend declared is additionally to the interim dividend of Rs 21 per share paid earlier within the fiscal.