BHEL pays 110 per cent Interim Dividend for fiscal 2009-10

Bharat Heavy Electricals Limited (BHEL) has paid an interim dividend of 110% on the enhanced equity capital post-bonus, for fiscal 2009-10 as against 90% paid in the year before.

With this, the company has maintained its unmatched track record of earning profits and rewarding investors by paying dividends uninterruptedly for over three decades without a break.

A cheque of Rs.3646.6 Million towards the interim dividend for the year 2009-10 on the equity (67.72%) held by the Government of India, was presented here today to Mr. Vilasrao Deshmukh, Hon’ble Union Minister for Heavy Industries and Public Enterprises by Mr. B.P. Rao, Chairman and Managing Director, BHEL, in the presence of Mr. Arun Yadav, Hon’ble Union Minister of State for Heavy Industries and Public Enterprises and Dr. Satyanarayana Dash, Secretary, Ministry of Heavy Industries & Public Enterprises.

Directors on the board of BHEL as well as other senior officials of the Ministry of Heavy Industries & Public Enterprises and BHEL were also present on this occasion.

The growth momentum achieved by BHEL in 2008-09 is likely to be accelerated in the current fiscal. The company has recorded significant growth in its turnover and despite the wage revision, maintained its profitability in the first nine months of 2009-10, as against the corresponding period in the previous year. With an order book position of over Rs.1,340,000 Million, at the end of the third quarter, the company expects to achieve robust growth in 2009-10 and beyond.

BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself for the future, by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower to meet the country’s power forecast for the 11th Plan and beyond.