Bharat Petroleum Corporation Ltd (BPCL) will consider the declaration of interim dividend for the ongoing fiscal year, and fixation of the record date for the same, in the board meeting scheduled on November 29, a regulatory filing stated on November 21. The announcement comes three weeks after the state-owned oil marketing company posted a net profit of ₹8,422 crore for the quarter ending September 2023, as against a net loss of ₹338 crore in the year-ago period. “…this is to inform you that a meeting of the Board of Directors would be held on Wednesday, 29th November 2023, to consider the proposal of declaration of interim dividend for the financial year 2023-24 and fixation of record date," it informed the stock exchanges.
The record date marks the last date of the period during which shareholders are eligible for the dividend payout. Also Read: HPCL, BPCL, IOC shares see up to 4% rise as declining crude prices lift investor sentiments Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! For the fiscal year ended March 2023, BPCL had declared an equity dividend of ₹4 per share of face value of ₹10 each.
Meanwhile, in the second quarter of FY24, BPCL's net profit came down sequentially even as it rose on year-on-year basis. At ₹8,422 crore, the net profit was lower than ₹10,644 crore recorded in the preceding quarter ended June 2023. The revenue from operations had come in at ₹1.17 lakh crore in Q2FY24.Read more on livemint.com