BPCL to reward shareholders post Numaligarh sale
State-run Bharat Petroleum Corp. Ltd (BPCL) will pay dividend to its shareholders after the stake sale in Assam-based Numaligarh Refinery Ltd (NRL) is completed, N. Vijaygopal, director finance, BPCL, said on Tuesday.
“A portion of the proceeds will go to shareholders as we have a track record of rewarding shareholders. A portion will also go towards tax and the rest will go towards completing the Bharat-Oman stake sale,” he added.
The BPCL board approved the sale of its entire 61.65% stake in NRL for ₹9,875 crore on Monday, ahead of its privatization. A consortium of Oil India Ltd (OIL) and Engineers India Ltd (EIL) will acquire 49%, and the rest 13.65% will be sold to Assam government.
