BPCL bonus issue: Last day to buy shares to qualify before record date
Bharat Petroleum Corporation (BPCL) had announced June 22 as the record date for its 1:1 bonus share issuance. Today is the last day to buy shares to qualify for receiving the company's bonus shares.
In May, BPCL announced that it would issue bonus shares to eligible shareholders in a 1:1 ratio. This means that for every share held, shareholders will receive one additional share in their Demat account.
The company intends to issue a total of 216.92 crore shares as bonuses, resulting in the company's equity share capital standing at Rs 4,338.50 crore.
The bonus shares are expected to be credited to shareholders' accounts by July 8, as per a previous filing with the stock exchanges.
The state-run oil marketing company’s board has also recommended a final dividend of Rs 21 per equity share (pre-bonus), with a face value of Rs 10 each, for the year 2023-24. This translates into a final dividend of Rs 10.5 per share (post-bonus) of the same face value.
For the quarter ended March 2024, BPCL reported a 35% drop in its standalone net profit at Rs 4,224 crore, while revenue from operations fell marginally to Rs 1.32 lakh crore against Rs 1.33 lakh crore posted in the same quarter of previous fiscal.
Shares of BPCL have gained 68.2% in the last year and in the last two weeks alone, the stock has gained 7.20%.
On Thursday, BPCL shares had closed nearly 1.7% higher at Rs 626.30 on BSE.
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