BPCL Dividend In Focus: Last Day To Buy Shares To Qualify Ahead Of Ex-Date
Last week, BPCL announced an interim dividend of Rs 5, which will be paid on Feb. 20 to eligible shareholders.
Bharat Petroleum Corp.'s share price was in the spotlight on Tuesday, as it marks the last session for investors to buy shares to qualify for receiving interim dividend before the stock goes ex-trade. The record date will determine the eligible shareholders who will receive the dividend payment.
Last week, BPCL announced an interim dividend of Rs 5, which will be paid on Feb. 20 to eligible shareholders. The record date for the dividend is set for Jan. 29.
Given India's T+1 settlement cycle, shares purchased on the record date (Jan. 17 in this case) itself will not be eligible for the dividend payment. Therefore, investors who own shares by Jan. 28 will be the beneficiaries.
In the previous financial year, the company had paid an interim dividend of Rs 21 and a final dividend of Rs 10.5.
BPCL recorded a 94% jump in net profit, which stood at Rs 4,649 crore for the quarter ended Dec. 31, 2024, compared to Rs 2,397 crore in the same quarter of the previous fiscal, according to its stock exchange notification. This was below the Rs 5,265-crore estimate by analysts tracked by Bloomberg.
Revenue increased by 10.1% on a sequential basis during the three months ended December, reaching Rs 1.13 lakh crore. Analysts had projected revenue of Rs 1.07 lakh crore.
BPCL Share Price Movement
BPCL's share price was trading 1.4% lower at Rs 257.65 per share, compared to a 0.25% advance in the NSE Nifty 50 by 10:55 a.m. Intraday, it fell 2.7%, while the relative strength index was 30.
The scrip has risen 8.5% in the last 12 months.
Of the 34 analysts tracking BPCL, 21 have a 'buy' rating on the stock, eight recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 341, implying an upside of 33%.
