HPCL Announces Final Dividend Of Rs 16.50 Per Share
HPCL proposes to distribute Rs 2,340 crore to shareholders for which it has announced a final dividend of Rs 16.50 per share for fiscal 2024.
Hindustan Petroleum Corp. has announced a final dividend of Rs 16.50 per equity share for fiscal 2024, awaiting approval from shareholders at the ensuing annual general meeting. The company announced the distribution of Rs 2,340 crore to shareholders in the fourth quarter of the previous fiscal.
The dividend, if declared at the annual general meeting, will be paid within a month from the date of declaration at the annual general meeting, the company said in an exchange filing on Thursday.
On Feb. 7, 2024, the company issued an interim dividend of Rs 15 per share. The company in total has paid a dividend of Rs 31.50, and it will distribute Rs 4,468 crore to shareholders in the financial year 2023–24.
In comparison, the company issued a final dividend of Rs 14 each in August 2022. On July 8, 2021, the company gave a final dividend of Rs 22.75, which was the highest dividend issued by the company.
The company has also announced a bonus issue of one share for every two shares held. This will be the first bonus issue by the company since July 2017. The board has set the record date for the same as June 21, 2024.
In the fourth quarter, the company reported a net profit jump of 5.3% at Rs 2,842.75 crore and a revenue gain of 2.6% at Rs 1,14,556.87 crore.
The shares of HPCL fell 4.15% to Rs 501.15 apiece as of 2:42 p.m. This compares to a 1.34% decline in the NSE Nifty 50 Index.
