This Maharatna Announces Final Dividend; Takes Dividend Yield For Fy22 To Almost 5%

BPCL alongside its results today which came in lower than expectation with net profit inching lower significantly has announced final dividend for the Fy22.

In the filing, the company said, "The Board of Directors has recommended a final dividend of Rs. 6/- per equity share for the financial year ended 31st March 2022 subject to the approval of the shareholders at the ensuing Annual General Meeting(AGM). The final dividend would be paid within 30 days from the date of its declaration at the AGM. The final dividend is in addition to the first interim dividend of Rs .5/- per equity share of Rs 10 each and second interim dividend of Rs 5/- per equity share of Rs 10 each paid for the financial year 2021-22 by the Company.

So, considering the total dividend of Rs. 16 for the Fy 2022 and the current share price of Rs. 326.15 per share, takes the dividend yield to 4.9%.

So, regardless of its privatisation which has been deferred, the stock is promising as going ahead these refineries in order to cover up for their under-recoveries can increase fuel prices and this can be good for refineries. Also, with the dividend yield of close to 5%, this is indeed a good play for steady dividend income source.

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