Oil India Dividend 2023: Check record date, ex-date and payment date | Oil India Share Price NSE

Oil India Dividend Record Date 2023: Oil India Limited – a state-owned oil production and exploration company – on Friday announced an interim dividend to its shareholders for the financial year 2022-23 (FY23) along with its October-December quarter earnings for the current fiscal.

“The Board of Directors declared a Second Interim Dividend of Rs 10/- per share (100% paid-up capital) for the financial year 2022-23. The interim dividend declared shall be paid on or before 12th March 2023.,” Oil India said in its results filing on February 3, 2023.

This is in addition to the first interim dividend of Rs 4.50 per share declared earlier. The total interim dividend paid during the year is Rs 14.50 per share.

Oil India has “fixed Wednesday, 22nd February 2023 as the Record Date for ascertaining the eligibility of shareholders for payment of Second lnterim Dividend 2022-23.”

What is Record Date and why it’s important?

The record date is required to ascertain and determine who exactly a company's shareholders are as of that date, since shareholders of an actively traded stock are continually changing.

The shareholders of record as of the record date will be entitled to receive the dividend or distribution, declared by the company.

Oil India: Highest ever Q3 profit 

Oil India reported its highest-ever quarterly net profit in the third quarter ended December 31 on the back of a rise in oil and natural gas prices.

The net profit of Rs 1,746.10 crore, or Rs 16.10 per share, in October-December, compared with Rs 1,244.90 crore, or Rs 11.48 a share, in the same period a year back, the company said in a statement.

The rise in profitability was helped by the higher realisation on crude oil and gas the firm produces and sells. Also, output increased, helping both the topline and bottomline.

Oil India Share Price NSE

Oil India's share price on Friday dipped more than 2 per cent to Rs 223.9 per share on the NSE. The stock in the last one-year period has been flat with negative bias against 6 per cent rise in Nifty50.