Bharat Petroleum's bonus share issuance: Last day to qualify

Bharat Petroleum Corporation (BPCL) has set June 22 as the record date for its 1:1 bonus share issuance. Today is the final day for shareholders to purchase shares to qualify for this bonus.

In May, BPCL announced its plan to issue bonus shares in a 1:1 ratio. This means that for every share held, shareholders will receive one additional share. The company plans to issue a total of 216.92 Crore shares as bonuses, increasing its equity share capital to ₹4,338.50 Crore.

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

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

For the quarter ended March 2024, BPCL reported a 35% decline in standalone net profit, amounting to ₹4,224 Crore. Revenue from operations saw a slight decrease to ₹1.32 Lakh Crore, compared to ₹1.33 Lakh Crore in the same quarter of the previous fiscal year.

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

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Disclaimer: The article is for informational purposes only and not investment advice.