BPCL ex-dividend date TODAY: Did you buy Bharat Petroleum Corp shares ? Check details here

Bharat Petroleum Corporation Limited (BPCL) share price was seen in action on Thursday as today (September 16) is the ex-dividend date for Rs 58 per share dividend, the announcement regarding which was made by the company last month. 

The stock on Thursday has jumped over 2 per cent to Rs 442.1 per share (day’s high level) on the BSE intraday trade on Thursday. The stock earlier this week on Tuesday hit a new 52-week high of Rs 503 per share on the BSE.

The oil marketing company BPCL earlier last month on August 16 had announced the ex-dividend date of Rs 58 per share dividend, which comprises a special dividend of Rs 35 per share. 

The company in its filing to exchanges had informed that the final dividend, recommended by the board at its meeting on May 26, is subject to the approval of the shareholders at the Annual General Meeting (AGM) scheduled for September 27.

The ex-dividend date for a stock is usually set one trading day before the record date. And, the record date is set to identify the shareholders eligible to receive the dividend as per the rule.

Explaining the ex-dividend phenomenon, 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.”

BPCL is considered as one of the highest dividends issuing companies among others. The investors of BPCL had been waiting since March 2021, for the company to announce the dividend, says the managing director explaining further.

Since the announcement of ex-dividend, the stock of BPCL has jumped over 11 per cent versus its new 52-week high touched on September 14. At around 01:13 pm, the stock is trading near 2 per cent higher to Rs 439.4 per share as compared to a 0.42 per cent rise in the BSE Sensex same period.