27 May , 2022 By : Kanchan Joshi
BPCL dividend 2022: The board of directors of Bharat Petroleum Corp Ltd (BPCL) has recommended final dividend of Rs6 per equity share for the financial year 2021-22. This Rs6 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 Rs2,130.53 crore in the quarter ending March 31, 2022 (Q4FY22), which is huge 82 per cent lower from its net profit of Rs11,940.13 crore reported in Q4FY21.
This final BPCL dividend will be in addition to previous two BPCL dividends of Rs5 each announced for FY22. Hence, comparing this annual BPCL dividend of Rs16 ( Rs5 Rs5 Rs6) against current BPCL share price of around Rs325 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 Rs10 each and second interim dividend of Rs5/- per equity share of Rs10 each paid for the financial year 2021-22 by the Company."
In FY22, BPCL reported standalone PAT (Profit After Tax) at Rs8,788.73 crore, which is more than half of its PAT of Rs19,041.67 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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