Bharat Petroleum Corporation Limited (BPCL) has declared that, subject to shareholder approval via postal ballot, its board has recommended issuing bonus shares in the ratio of 1:1, i.e., one new bonus equity share of Rs 10 for every one existing equity share of Rs 10 fully paid up.
The government-owned business further said that the record date for determining a shareholder's eligibility to receive bonus shares is Saturday, June 22, 2024, as set by the Board.
"We would like to announce that, in accordance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Board has recommended issuing Bonus Shares in the ratio of 1:1, meaning that for every existing equity share of Rs. 10/-per share that is fully paid up, one new bonus equity share of Rs. 10/-per share would be issued, subject to shareholder approval through postal ballot. In a regulatory filing, BPCL stated, "The Board has set Saturday, June 22, 2024, as the Record date to ascertain shareholders' eligibility to receive bonus shares."
Final Dividend Recommendation by BPCL
For the year 2023–2024, the BPCL board has also proposed a final dividend of Rs21 per equity share (pre–bonus), which translates to a final dividend of Rs10.5 per share following the dividend.
BPCL stated that the Record Date for the final dividend would be announced separately.
Subject to shareholder approval at the next Annual General Meeting (AGM), the Board of Directors has recommended a final dividend of Rs. 21/-per equity share with a face value of Rs. 10/-each (pre-bonus). This translates into a final dividend of Rs. 10.5/-per equity share with a face value of Rs. 10/-per equity share (post-bonus).Thirty days after the final dividend was declared at the AGM, it would be paid. "BPCL indicated that the Record Date for the final dividend would be communicated separately.
BPCL Q4 Findings
In comparison to the same time in the previous year, when the firm declared a consolidated net profit of Rs 6,870.47 crore, there was a thirty percent fall to Rs 4,789.57 crore for the January-March quarter of the financial year 2023-24.
The unpredictable crude oil prices throughout the quarter resulted in higher input costs that could not be fully passed on to customers, which is why the government-owned company's earnings declined.
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