Bharat Petroleum Corporation Ltd (BPCL) on Wednesday declared a record Rs 12,581 crore dividend, more than half of which will go to the government, ahead of the privatisation of the company.
In a regulatory filing, BPCL said its “Board of Directors has recommended a final dividend of Rs 58 per equity share (including one-time special dividend of Rs 35 per equity share of Rs 10 each) for the financial year ended March 31, 2021 subject to the approval of the shareholders.”
The dividend works out to Rs 12,581.66 crore, including special dividend of Rs 7592.38 crore.
The government, which is selling its entire 52.98 per cent stake in BPCL, will get Rs 6,665.76 crore plus dividend distribution tax.
