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BHEL pays 110% interim dividend

Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 110 per cent on the enhanced equity capital post-bonus, for fiscal 2009-10 as against 90 per cent paid in the year before. With this, the company has maintained its unmatched track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break.

A cheque of Rs 364.66 crore was presented to Vilasrao Deshmukh, Union Minister for Heavy Industries and Public Enterprises by BP Rao, chairman and managing director, BHEL.

Arun Yadav, Union Minister of State for Heavy Industries and Public Enterprises and Dr Satyanarayana Dash, Secretary, Ministry of Heavy Industries & Public Enterprises were present on the occasion.

The growth momentum achieved by BHEL in 2008-09 is likely to be accelerated in the current fiscal. The company has recorded significant growth in its turnover and despite the wage revision, maintained its profitability in the first nine months of 2009-10, as against the corresponding period in the previous year. With an order book position of over Rs 1,34,000 crore, at the end of the third quarter, the company expects to achieve robust growth in 2009-10 and beyond.

In another development, BHEL and Toshiba Corporation, Japan have signed an MoU to explore the possibility of forming a Joint Venture Company (JVC) to address Transmission and Distribution (T&D) business in India and other mutually agreed countries. The joint venture company plans to undertake business of equipment and projects in Extra High Voltage Alternating Current (EHVAC) and Ultra High Voltage Alternating Current (UHVAC) range including 765kV transformers and reactors and Gas Insulated Switchgear (GIS), in addition to other products and systems.

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