1:2 bonus, Rs 3.75/ share PSU stock: Oil India shares hit record high post strong Q4 nos

Oil India share price today, Oil India bonus share record date 2024, Oil India Q4 results 2024, Oil India dividend 2024: Shares of state-owned Oil India Ltd (OIL) on Tuesday, May 21 were in the spotlight, a day after the PSU reported an 18 per cent rise in net profit in the March quarter on the back of higher prices of crude oil. Oil India shares rose 3.8 per cent to clock an all-time high of Rs 671.1 on NSE in morning deals. Oil India stock settled 2.37 per cent higher on NSE.

The consolidated net profit of Rs 2,332.94 crore in January-March -- the fourth quarter of the 2023-24 fiscal year -- compared with Rs 1,979.74 crore earning in the same period of the previous financial year, according to a stock exchange filing by the nation's second-biggest state-owned oil and gas producer.

Higher oil prices led to a 16 per cent rise in turnover to Rs 10,375.09 crore. Earnings from crude oil produced and sold rose 18 per cent but the same from gas dropped 16.5 per cent on lower prices. For the full 2023-24 fiscal (April 2023 to March 2024), net profit fell 29 per cent to Rs 6,980.45 crore.

Oil India bonus shares 2024

Oil India has approved the issuance of a 1:2 bonus issue, i.e., one free share for every two held by shareholders.

Oil India bonus share record date 2024

Oil India's board has fixed Tuesday, July 2, 2024, as record date to determine the eligibility of shareholders to receive bonus shares. 

Oil India dividend 2024 

Oil India has also approved a final dividend of Rs 3.75 per equity share of Rs 10 each (pre-bonus), which translates into final dividend of Rs 2.50 per share (post-bonus) for the 2023-24 fiscal.

Oil India dividend 2024 record date, Oil India dividend payment date 

The record date for payment of final dividend would be fixed and intimated in due course, the company said in its filing. 

Oil India dividend history 

The final dividend is in addition to the interim dividend of Rs 3.50 (pre-bonus) and the second interim dividend of Rs 8.50 (pre-bonus) paid for the fiscal.

(with PTI inputs)

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