Bharat Petroleum Corp. has announced a final dividend of Rs 21 per equity share for fiscal 2024, which will be paid after approval from shareholders at the ensuing annual general meeting. The company announced the distribution of Rs 4,555 crore to shareholders in the fourth quarter of the previous fiscal.
The dividend, if declared at the annual general meeting, will be paid within a month from the date of declaration at the annual general meeting, an exchange filing said on Thursday.
The company has also announced a bonus issue of one share for each share held. The board has set the record date for the same as June 22, 2024.
After the issue of the bonus shares, the value of the dividend will reduce to Rs 10.5.
On company on Dec. 12, 2023, the company issued an interim dividend of Rs 21 per share. The company in total has paid a dividend of Rs 42, and it will distribute Rs 9,110 crore to shareholders in the financial year 2023–24.
In comparison, the company in August 2023 had issued a dividend of Rs 4. On Aug. 19, 2022, the company gave a final dividend of Rs 6.
In the fourth quarter, the company reported a net profit jump of 24.34% at Rs 4,224 crore and a revenue gain of 1.62% at Rs 1.17 lakh crore.
Shares of BPCL closed 4.54% lower at Rs 592.15 apiece. This compares to a 1.55% decline in the NSE Nifty 50.
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