3 Bonuses, 2.83% Yield: Maharatna Oil PSU Set For Dividend On May 20, YTD Return 64%

Board of Directors of large cap maharatna status public sector undertaking Oil India Ltd will hold meeting on May 20, 2024 to consider financial results and recommend final dividend, if any. Last trading price of Oil India share on BSE is Rs 619.10 per share with intraday gain of 0.37%. Oil India Ltd share offered attractive return of 103% in last 6-months and gained 389% in last 3-years. In last 1-year, Oil India PSU offered an equity dividend amounting to Rs 17.50 per share. It offers a dividend yield of 2.83% and a PE of 12.64. Life Insurance Corporation Of India (LIC) has 8.04% stake in Oil India with 87,156,697 shares of the company. More details below:

Oil India To Consider Dividend, Results: As per the regulatory filing of the PSU dated May 10, "the Board Meeting of the Company has been scheduled on Monday, 20 th May, 2024 inter-alia:

i. To consider and approve the Audited Financial Results of the Company for the Quarter & Year ended 31st March, 2024 on Standalone and Consolidated basis, and

ii. To Recommend Final Dividend for F.Y. 2023-24, if any."

Oil India Dividend History: The PSU announced 35 dividends since February 10, 2010. In last 1 year, Oil India announced an equity dividend amounting to Rs 17.50 per share. At the current share price of 619.10, Oil India offers a dividend yield of 2.83%.

Oil India Share Performance & Return: The 52-week high price of Oil India Ltd share on BSE is Rs 669.05 apiece (as on 03/04/2024) and 52-week low price is Rs 240.65 per share (as on 26/06/2023), respectively. Oil India shares gave return of 138% in last 1-year, soared 187% in last 2-years, and offered return of 252% in last 5-years. FII/FPI have decreased holdings from 10.99% to 9.52% in Mar 2024 quarter. Number of FII/FPI investors increased from 303 to 322 in Mar 2024 quarter. Mutual Funds have increased holdings from 6.69% to 8.27% in March 2024 quarter.

Oil India Bonus Share History: Oil India offered 3 bonuses since March 29, 2012. The last Bonus that Oil India declared was in the ratio 1:2 with ex-date fixed as March 27, 2018.

Oil India Announces Nomination of Government Nominee Directors: The BSE filing stated, "This is with reference to the Ministry of Petroleum & Natural Gas (MoP&NG) letter no. CA-31032/1/2021-PNG-37493 dated 10.05.2024 regarding nomination of Government Nominee Directors on the Board of the Company, viz.:

(i) Shri Rohit Mathur, Joint Secretary, MoP&NG vice Shri Vinod Seshan, Director, MoP&NG,

(ii) Shri George Thomas, Deputy Secretary, MoP&NG."

About: Oil India Limited (OIL) is a fully integrated Exploration & Production company in the upstream sector, with origin dating back to the glorious year (1889) of oil discovery in India. A Maharatna Company, OIL is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas and is the second largest national oil and gas company in India. The story of OIL traces and symbolizes the growth and development of the Indian petroleum Industry. From the discovery of the crude oil in the far east of India at Digboi, Assam in 1889 to its present status as a fully integrated National Exploration and Production company with footprints across entire E&P value chain. The company is India's second largest National E&P Company, according to its official website.

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