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BPCL Announces June 22 Record Date for 1:1 Bonus Share Issuance; Final Day for Share Purchase

Bharat Petroleum Corporation (BPCL) has announced June 22 as the record date for its 1:1 bonus share issuance. Today is the last day for shareholders to acquire shares to be eligible for this bonus

In May, BPCL revealed its plan to distribute bonus shares in a 1:1 ratio, meaning shareholders will receive one additional share for every share they own. The company intends to issue a total of 216.92 crore bonus shares, thereby increasing its equity share capital to ₹4,338.50 crore.

According to a prior filing with stock exchanges, the bonus shares are expected to be credited to shareholders’ accounts by July 8.

Dividend Recommendation and Financial Performance

BPCL’s board has recommended a final dividend of ₹21 per equity share (pre-bonus), with a face value of ₹10 each, for the fiscal year 2023-24. Following the bonus issuance, this will adjust to a final dividend of ₹10.5 per share (post-bonus) with the same face value.

For the quarter ending March 2024, BPCL reported a 35% decline in standalone net profit, totaling ₹4,224 crore. Revenue from operations slightly decreased to ₹1.32 lakh crore from ₹1.33 lakh crore in the same quarter of the previous fiscal year.

Share Performance

Over the past year, BPCL shares have surged by 68.2%, including a 7.20% rise in the last two weeks alone. On Thursday, BPCL shares closed 1.7% higher at ₹626.30 on the BSE.

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