All shareholders of BPCL have received FY21’s dividend of Rs. 58 per share (Rs. 35 special dividend and Rs. 23 final divided for FY21) in this week in their bank accounts. This was no less than a celebration for some, as the dividend yield was over 12% i.e. double the average bank interest rate. This dividend was in addition to Rs.21 received in FY21 as 2 interim dividends of Rs. 16 and Rs. 5 per share. Thus, normal divided (excluding special) for BPCL stood at Rs. 44 per share for FY21.
BPCL has now announced consideration of interim dividend for FY22, in the upcoming board meeting, tomorrow Fri 29th Oct 2021. Since interim dividend is to be paid within 30 days of declaration, the dividend, if declared, will be paid in November itself. This can be considered a pre-cursor to the next step in stake sale process, of inviting financial bids. Thus, BPCL stake sale timeline of Q4FY22, as indicated by multiple government personnel, seems right on track.
Media and few vested interests started linking this interim dividend, with no stake sale, which is a ploy for them to make buy chunk by BiG fish.
For now, shareholders are celebrating, and in festive spirits, terming this announcement as sone pe suhaga!
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