Oil India Sets July 2, 2024, as Record Date for 1:2 Bonus Shares

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Synopsis:

Oil India has announced July 2, 2024, as the record date for issues of 1:2 bonus shares. This date will determine the eligibility for receiving the bonus shares. Additionally, Oil India has announced a final dividend of ₹3.75 per share for FY24.

Oil India Bonus Shares Record Date 2024

Oil India, the state-run crude oil producer, has proposed issuing bonus shares in a 1:2 ratio. This means shareholders will receive one equity share of ₹10 for every two shares of the same value.

The record date set for the issuance is Tuesday, July 2, 2024. This date will determine the eligibility for receiving the bonus shares.

Proposed Final Dividend

In addition to the bonus shares, Oil India's board has announced a final dividend of ₹3.75 per share for 2023-24. Post-bonus issuance, this would equate to ₹2.50 per share.

This final dividend supplements the Interim Dividend of ₹3.50 and the second Interim Dividend of ₹8.50 already distributed during the financial year.

Explore:Oil India Ltd Share Price

Oil India Q4FY24 Performance

Oil India reported significant growth in its financial performance for the fourth quarter of FY 2024. The company's consolidated net profit surged by 17.8% year-on-year (YoY) to ₹2,332.94 crore, compared to ₹1,979.74 crore in the same quarter of the previous year.

Additionally, its EBITDA increased by 11% to ₹2,336 crore. Despite these gains, there was a sequential decline of 10.5% in net profit from the previous quarter's ₹2,607.66 crore.

In Conclusion

Oil India's announcement of bonus shares and a final dividend reflects its commitment to rewarding shareholders. The company's financial performance, particularly its Q4FY24 results, showcases strong growth despite some year-on-year declines in net profit.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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