Dividend Stock: This PSU Announces To Pay Rs 8.50 Dividend: Record Date Today! Check Key Dates, Payment Out And Other Details (image source: Canva)
Oil India Limited Dividend Announcement: Oil India Limited, the state-owned petroleum company, has caught the market’s attention with its announcement of a substantial dividend. On March 14, investors will be keenly observing the company’s stocks due to a scheduled corporate action. Take a look into the key details of the Oil India Limited dividend announcement.
Oil India Limited Dividend Details
The National Stock Exchange (NSE) has reported that Oil India Limited is set to distribute an impressive 85 per cent dividend on each share. Dividends are essentially a portion of a company’s earnings distributed to shareholders as a return on their investment.
Oil India Limited Recent Share Price Movement
As of the last trading session, Oil India Limited’s shares witnessed a downturn, closing at Rs 555.70, which is a decrease of Rs 17 or 2.97 per cent. The trading volume was notably high, with over 6.62 lakh shares being traded.
Oil India Limited Dividend Payout
The dividend payout is based on the face value of the stock. For Oil India Limited, an 85 per cent dividend means Rs 8.50 per share with a face value of Rs 10 for the fiscal year 2023-24, as stated in the company’s exchange filing.
Key Dates For Shareholders
Oil Indian Limited Ex-Date:
The ex-date for the interim dividend is set for March 18.
Oil Indian Limited Record Date:
The same date (March 18) has also been designated as the record date to identify eligible shareholders for the dividend, as per the company’s communication on March 1, 2024.
Oil Indian Limited Payment Date:
The payment for the second interim dividend for the fiscal year 2023-24 is scheduled to be made on or before April 7, 2024.
Oil Indian Limited Stock Performance And Overview
Oil India Limited is part of the S&P BSE 200 index. A look at the BSE analytics reveals an 11.82 per cent decline in the company’s share price over the past week as of March 17. However, the year-to-date (YTD) performance shows a 46.89 per cent increase, and over the past year, the shares have experienced a significant 114.51 per cent gain. This dividend declaration reflects the company’s strong financial position and commitment to rewarding its investors.
