State-run oil marketing company (OMC) Bharat Petroleum Corporation Ltd's (BPCL) board of directors on Thursday, May 9, recommended a final dividend of Rs 21 per equity share for FY24, according to a stock market disclosure. This is subject to the company's shareholders' approval.

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"The Board of Directors has recommended a final dividend of Rs 21/- per equity share of the face value of Rs 10/-each (pre-bonus), which translates into a final dividend of Rs 10.5/- per  equity share of the 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 company said in a BSE filing.

BPCL in a regulatory filing informed that 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 has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement. It reported a 30 per cent fall in its March quarter net profit on lower refining margins. Its consolidated net profit of Rs 4,789.57 crore in January-March -- the fourth quarter of the 2023-24 fiscal -- was compared to Rs 6,870.47 crore in the same period of the preceding financial year, according to a company's stock exchange filing.

Meanwhile, shares of BPCL closed at Rs 592.3 each, down 4.6 per cent on BSE today, May 9.