NEW DELHI: The recent rise in BPCL shares was partly due to expectations of the company announcing strong dividends. The oil marketing company (OMC) did deliver dividends that exceeded analyst estimates. Analysts now say the larger-than-expected dividend payout could be a sign that the government is getting ready for the much-awaited divestment of the oil PSU. Given the size of the dividend, there would be adjustment in strike prices in options segment of the BPCL stock, they said. The stock traded about 1% higher at Rs 474 in early trade on Thursday. The OMC declared a final dividend of Rs 58 per share, including a one-time special dividend of Rs 35 per share. The one-time special dividend declared appears roughly similar to the post-tax gain on the sale of investment in subsidiary Numaligarh Refinery, analysts said, while noting that the total dividend by BPCL for FY21 stood at Rs 79 a share.