BPCL (BPCL.NS) Announces Dual Corporate Action: 1:1 Bonus and Final Dividend – Key Dates to Note

• Bharat Petroleum Corporation Ltd (BPCL) has announced its Q4FY24 results and declared a bonus issue in the ratio 1:1, along with a final dividend.
• The state-run oil marketing company (OMC) will issue one additional share for each share held, with the record date for the issue fixed as June 22, 2024.
• The board has also recommended a final dividend of ₹21 per equity share (pre-bonus) of face value of ₹10 each for the year 2023-24.

BPCL announces Q4FY24 results, declares 1:1 bonus issue and final dividend, providing a significant update for shareholders and potential investors.

BPCL Bonus Issue

The Board of BPCL has recommended the issue of Bonus Shares in the ratio of 1:1. This means one new bonus equity share of Rs. 10 each for every one existing equity shares of Rs. 10 each fully paid up, subject to the approval of shareholders through postal ballot. The bonus equity shares will be issued out of the securities premium account based on the audited financial statements as on 31st March, 2024.

BPCL Dividend

The board of directors has recommended a final dividend of Rs. 21 per equity share of face value of Rs.10 each (pre-bonus), which translates into a final dividend of Rs.10.5 per equity share of face value of Rs.10 per equity share (post-bonus), subject to the approval of the shareholders at the ensuing annual general meeting (AGM).

BPCL Q4 Results – Key Metrics

BPCL reported a 30 per cent fall in its March quarter net profit on lower refining margins. The consolidated net profit of ₹4,789.57 crore in January-March — the fourth quarter of the 2023-24 fiscal — was compared to ₹6,870.47 crore in the same period of the preceding financial year. The turnover was almost flat at ₹1.32 lakh crore when compared to ₹1.34 lakh crore in January-March 2023.

Conclusion

Despite a drop in net profit, BPCL’s announcement of a 1:1 bonus issue and final dividend provides a positive outlook for shareholders. The company’s strategic plans for growth and expansion in the coming years also indicate potential for increased shareholder value.