BPCL Declares Final Dividend And 1:1 Bonus Share Issue

BPCL reported a 30 per cent decline in consolidated net profit of Rs 4,789.57 crore for the January-March quarter financial year 2023-24.

New Delhi: Bharat Petroleum Corporation Limited (BPCL) has announced that its board has recommended the issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every one existing equity shares of Rs 10 each fully paid up, subject to the approval of shareholders through postal ballot.

The government-owned company added that the Board has fixed Saturday, 22nd June 2024 as Record date to determine the eligibility of shareholders to receive bonus shares.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform that the Board has recommended issue of Bonus Shares in the ratio of 1:1 i.e. one new bonus equity share of Rs. 10/- each for every one existing equity shares of Rs. 10/- each fully paid up subject to the approval of shareholders through Postal Ballot. The Board has fixed Saturday, 22nd June 2024 as Record date to determine the eligibility of shareholders to receive bonus shares," BPCL said in a regulatory filing.

BPCL Recommends Final Dividend 

BPCL board has also recommended a final dividend of Rs 21 per equity share (pre-bonus) for the year 2023-24, which works out to a final dividend of Rs 10.5 per share after the dividend.

The Record Date for the final dividend will be intimated separately, BPCL added.

"The Board of Directors has recommended a final dividend of Rs. 21/- per equity share of face value of Rs.10/-each (pre-bonus), which translates into final dividend of Rs.10.5/- per equity share of face value of Rs.10/- per equity share) (post-bonus), subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). The final dividend would be paid within 30 days from the date of its declaration at the AGM. The Record Date for the final dividend will be intimated separately," BPCL wrote.

BPCL Q4 Results

The company reported a 30 per cent decline in consolidated net profit of Rs 4,789.57 crore for the January-March quarter financial year 2023-24 compared to the corresponding figure of Rs 6,870.47 crore in the same period last year.

The decline in the government-owned company's profit comes amid volatile crude oil prices during the quarter which led to an increase in input costs that could not be fully passed on to consumers.