BackBPCL board recommends dividend despite missing street estimates
BPCL dividend 2022: State-owned company's board of directors has recommended a final dividend of ₹6 per equity share for FY2021-22
PremiumBPCL dividend 2022: The board of directors of Bharat Petroleum Corp Ltd (BPCL) has recommended final dividend of ₹6 per equity share for the financial year 2021-22. This ₹6 BPCL dividend is subject to approval of shareholders at ensuing Annual General Meeting (AGM). The Government-owned oil marketing company has announced final dividend despite missing the Dalal Street estimates in its Q4 results. The state-owned oil maker company has posted a standalone net profit of ₹2,130.53 crore in the quarter ending March 31, 2022 (Q4FY22), which is huge 82 per cent lower from its net profit of ₹11,940.13 crore reported in Q4FY21.
This final BPCL dividend will be in addition to previous two BPCL dividends of ₹5 each announced for FY22. Hence, comparing this annual BPCL dividend of ₹16 ( ₹5 + ₹5 + ₹6) against current BPCL share price of around ₹325 apiece levels, annual dividend yield of BPC stands at around 4.9 per cent.
BPCL board informed Indian exchanges about the recommendation of final dividend citing, "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 ₹10 each and second interim dividend of ₹5/- per equity share of ₹10 each paid for the financial year 2021-22 by the Company."
In FY22, BPCL reported standalone PAT (Profit After Tax) at ₹8,788.73 crore, which is more than half of its PAT of ₹19,041.67 crore in previous financial year (FY21). However, company's gross refining margin (GRM) in FY2021-22 jumped to $9.09 per barrel, which stood at $4.06 per barrel in FY2020-21.
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