Indian Oil has fixed record date for bonus shares, shareholders will also get dividend, read details

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New Delhi. The country’s largest state-owned oil marketing company Indian Oil will issue bonus shares to its shareholders. IndianOil has fixed the 1st of next month as the record date for issue of bonus shares to its shareholders. Apart from this, dividends will also be given to the shareholders for the financial year 2021-22.

The Board of Directors of IndianOil had recommended issuance of bonus shares in the ratio of 1:2. This means that for every 2 shares investors will be given 1 share bonus. The face value of the share is Rs 10 per share.

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will get this much dividend
IndianOil has also recommended a pre-bonus dividend of 36 per cent i.e. Rs 3.60 per equity share of Rs 10 face value to shareholders for the financial year 2021-22. At the same time, the value of final dividend after bonus will be Rs 2.40 per share. The final dividend will be paid within 30 days from the date of declaration at the AGM. It is worth noting that this final dividend is in addition to the interim dividend of Rs 9 given for the financial year 2021-22. No record date has been set for the final dividend yet.

What is the record date?
This is the date on which the company counts its shareholders. With this, only those who buy shares till a day before the date will get bonus shares. The same happens in the case of dividends. There the record date comes after the ex-dividend. Those who buy shares before the ex-dividend date get dividend.

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position of company’s shares
The company’s shares are trading close to Rs 108 on NSE till the time of writing the news. In the last one year, this stock has seen a decline of 4.50 percent. However, ICICI Securities has given it a buy rating with a target of Rs 145.

decrease in profits
IndianOil’s net profit declined 31.4 per cent to Rs 6,022 crore in the fourth quarter of the financial year 2021-22 ended March 2022. The state-owned oil company had a net profit of Rs 8,781 crore in the same period a year ago. The company’s revenue grew by 25.6 per cent to Rs 2.06 lakh crore in the January-March 2022 quarter. It stood at Rs 1.64 lakh crore in the same period a year ago.

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Tags: Indian Oil, Share market, stock market

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