Bharat Petroleum’s big dividend not the norm, warn experts
NEW DELHI: State-run oil marketing company Bharat Petroleum’s (BPCL) higher-than-expected dividend payout should not lure investors into accumulating PSU stocks in anticipation of receiving similar cuts from their profits.
BCPL on Wednesday had announced a dividend of Rs 58, which was a 12 per cent yield on its then market price of Rs 478. BPCL offered this cut on back of solid results for Q4FY21 in which it reported a profit after tax of Rs 11,940 crore as compared to a loss of Rs 1,847 crore in Q4FY20. The bottomline included a one-off component too since the company has sold its 61.5 per cent stake in Numaligarh Refinery for Rs 9,876 crore.
