Bharat Petroleum Corporation Limited (BPCL) on Wednesday announced a dividend payout of Rs 58 per equity share. The announcement was made with the quarterly earnings results declared by the company for the quarter ended 31 March 2021. BPCL’s Director Finance Neelakantapillai Vijayagopal spoke to Zee Business about the timeline for the payment of dividend and the divestment status and more. 

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BPCL posted strong Q4FY21 results on Wednesday with income going up by 15 per cent while the profits increasing three-fold. The company has already declared in its press release that the dividend will be given with 30 days of its Annual General Meeting (AGM).  

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Vijayagopal said that the company will try to give the dividend payout as early as possible. However it can be given only after the approval of shareholders, since it is an annual dividend, he added.

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He said that as a government company, there is a requirement of auditing and as soon as that is done, the company will call the AGM. He expects the AGM to happen by third week of August. 

On stake sale in IGL and Petronet:  

The Director said that BPCL has no plans to sell its stake in Petronet or IGL. 

On divestment, Vijayagopal said that he expects the process of divestment to get completed by December. He said that because of the lockdown restrictions, there is a travel delay on the part of bidders.