BHEL pays Rs 1,524.8 cr dividend to government

NEW DELHI: Power equipment maker Bharat Heavy Electricals has paid its highest equity dividend of Rs 1,524.8 crore to the government for 2010-11.

A cheque of Rs 593.4 crore towards final dividend for 2010-11 was presented to Heavy Industries and Public Enterprises Minister Praful Patel here today. The cheque was given by BHEL Chairman and Managing Director B P Rao.

"With a final dividend payout of 179 per cent, BHEL has paid the highest-ever equity dividend of 311.5 per cent for fiscal 2010-11, as against 233 per cent paid in the year before," the company said in a statement today.

The total amount includes an interim dividend of 133 per cent paid earlier.

"At Rs 1,524.8 crore, this is the highest-ever dividend paid by the company so far," it added.

State-run BHEL raked in a profit of Rs 9,006 crore for the 2010-11 financial year and all-time high turnover of Rs 43,337 crore.

"The company has set an ambitious target of commissioning over 20,000 MW comprising utilities, industrial and overseas projects during 2011-12," Rao said during its annual general meeting last week.

In 2010-11, BHEL commissioned 9,442 MW of power equipment. This includes 52 sets of equipment, with a combined capacity of 7,667 MW, commissioned within the country and abroad.