Big cheers for the investors of Bharat Petroleum Corporation Limited (BPCL), as the company has declared the dividend ex-date, which was expected for months now. BPCL along with its June-end quarter results on Thursday announced that the ex-dividend will be issued on September 16, 2021.

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The privatisation-bound state-owned entity’s board has decided to give Rs 58 per share dividend as an ex-date. BPCL is considered as one of the highest dividend issuing companies among others.

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While explaining this big breaking, Zee Business Managing Editor Anil Singhvi says, “if investors buy BPCL stock before September 15, 2021, then he/she would get along with dividend or after that without out dividend, as the ex-date decided by the company is September 16, 2021.”

Of this 58 per share dividend, Rs 35 per share is a special dividend and Rs 23 per share in final dividend, as the company’s board, has decided.

The investors of BPCL had been waiting since March 2021, for the company to announce the dividend, says the managing director explaining further.

Even the investors, who are buying BPCL Futures shares will be benefited from the oil marketing company’s dividend, as it's more than 5 per cent, Singhvi adds.

The stock on Friday jumped 2.5 per cent to Rs 458.8 per share to touch a day’s high level on the BSE intraday trade amid dividend and Q1 numbers. It has been trading over 1.5 per cent higher to Rs 455 per share on the BSE at around 11:10 am, as against a 0.64 per cent rise in the S&P BSE Sensex. 

The OMC on Thursday reported a 28 per cent year-on-year decline in net profit to Rs 1,501.6 crore in the June-ended quarter of the financial year 2021-22, which was below analysts’ expectations. While its sales surged 77 per cent year-on-year to Rs 89,687 crore in Q1FY22, sharply higher than estimates.