New Delhi: State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) has proposed an equity dividend of 79%, including 40% interim dividend paid earlier, for the fiscal year 2016-17.

“Significantly, not only is this four times the dividend paid (20 per cent) in the previous year but also the highest to be paid by the company in the last three years," BHEL said in a statement on Monday. With this, the company said, it has maintained its impeccable track record of rewarding investors by paying dividends uninterruptedly for four decades without a break.

In 2016-17, BHEL achieved double digit growth in its topline and bounced back into profit, it said. During the year, the company recorded a turnover of Rs28,840 crore, up 11% over the previous year, after reversing the trend of negative topline growth in the last three years.

The company also returned to profitability with a profit-before-tax of Rs628 crore in the fiscal, compared to a loss of Rs1,164 crore (IND-AS restated) in 2015-16. The net profit stood at Rs496 crore in 2016-17, against a net loss of Rs710 crore (IND-AS restated) in the previous year.

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