Post  dividend  payout,  progress on privatization key for BPCL

NEW DELHI : Bharat Petroleum Corp. Ltd’s (BPCL) shares scaled to a new 52-week high on the National Stock Exchange on Thursday. A handsome dividend payout and strong March quarter performance are the reasons for investor optimism.

BPCL has announced a dividend of ₹58 per share. This is in addition to the ₹21 per share dividend announced earlier in the year. Accordingly, at the current market price, BPCL’s total dividend payout of ₹79 per share translates into almost a 17% dividend yield for financial year 2021.

The proceeds from the treasury stock sale and Numaligarh Refinery Ltd (NRL) stake sale have been passed on to investors as dividend.