BPCL Bonus Issue: Last day to purchase shares to qualify before record date.
In May, BPCL had announced that it would issue bonus shares at a 1:1 ratio to eligible shareholders. This means that for every share held, shareholders will receive one additional share in their Demat account.
The company plans to issue a total of 216.92 crore shares as bonus, resulting in the company’s equity capital of Rs 4,338.50 crore.
The bonus shares are expected to be credited to shareholders’ accounts by July 8, according to an earlier filing with the stock exchange.
The board of the state-owned oil marketing company has also recommended a final dividend of Rs 21 (pre-bonus) per share with face value of Rs 10 for 2023-24. This translates into a final dividend of Rs 10.5 (post-bonus) per share of the same face value. For the quarter ended March 2024, BPCL reported a 35% decline in standalone net profit at Rs 4,224 crore, while revenue from operations declined. There was a slight increase to Rs 1.32 lakh crore compared to Rs 1.33 lakh crore posted in the same quarter of the previous fiscal. BPCL’s stock price has risen 68.2% in the last year and the stock has risen 7.20% in the last two weeks alone. BPCL shares on Thursday closed nearly 1.7 per cent higher at Rs 626.30 on the BSE.
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