HPCL dividend 2024: OMC Hindustan Petroleum Corporation announces Rs 16.50 dividend, check record date

HPCL dividend 2024: Oil and marketing company (OMC) Hindustan Petroleum Corporation Ltd's (HPCL) board of directors on Thursday, May 9, recommended a final dividend of Rs 16.50 per equity share for FY24, according to a stock market disclosure. 

HPCL has also announced a record date of its dividend i.e. August 09, 2024, according to the regulatory filing.

The board further informed in a BSE filing, that the aforesaid Final Equity Dividend of Rs.16.50 per equity share having face value of Rs. 10/- each (pre-bonus), which translates into final dividend of Rs. 11 per equity share having face value of Rs. 10/- each (post-bonus) for the Financial Year 2023-24, subject to the approval of the shareholders of the Company. The same would be paid within 30 days from the date of declaration at the ensuing AGM. The final equity dividend is in addition to the Interim Dividend(s) of Rs. 15.00 per share (pre-bonus) paid for the financial year 2023-24. 

HPCL has also announced its financial results for the fourth quarter ended on March 31, 2024, along with a dividend announcement. The company reported a 25 per cent fall in its March quarter net profit on lower refining margins. Its consolidated net profit of Rs 2,709.31 crore in January-March - the fourth quarter of the 2023-24 fiscal year - compares to Rs 3,608.32 crore in the same period of the previous financial year, according to a company's stock exchange filing.

The PSU OMC has also announced a bonus share issue in the ratio of 1:2 i.e. eligible investors will get one share free for every two shares held by them. Read more here

Meanwhile, shares of HPCL closed at 501.3 each, down 4.17 per cent on BSE today, May 9.