HPCL Bonus Share News: In the fourth quarter (January-March) of the last financial year 2023-24, the profit of the state-run oil company Hindustan Petroleum Corporation (HPCL) has registered a sharp decline of 25 per cent. In a stock market filing, the company said its net profit for the fourth quarter of fiscal 2023-24 was Rs 2,709.31 crore, as against Rs 3,608.32 crore in the fourth quarter of fiscal 2022-23.
In the quarter, the company earned US $6.93 per barrel of crude oil converted into fuel, compared to $8.50 per barrel in the previous quarter. HPCL’s profit for the entire financial year 2023-24 is Rs. 16,014.61 crores. It had a loss of Rs 6,980.23 crore in the financial year 2022-23.
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The Board of Directors of HPCL has also announced to issue one bonus share for every two shares. This will be the company’s first bonus issue since July 2017. The board has set the record date for this as June 21, 2024.
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Declaration of Dividend
Apart from this HPCL has declared dividend. The company plans for FY 2024 per equity share of Rs. 16.50 has announced a final dividend, which is awaiting approval from shareholders at the next annual general meeting or AGM. Let us tell you that on February 7, 2024, the company had issued an interim dividend of Rs 15 per share. The company made a total of Rs. 31.50 as dividend has been given.
As for HPCL shares, it closed down 4.17%. On the fourth trading day of the week, Rs. 501.30 was reached. The lowest level of this stock during trading is Rs 497. At the same time, the share price in October 2023 was Rs 239.25. The stock is at a 52-week low.