Oil Sector PSU Stock Under Rs 100 Set To Go Ex-Dividend For 30% Final Dividend On July 28

Oil and Gas sector Maharana PSU stock, Indian Oil Corporation Ltd. (IOCL) is all set to trade ex-dividend for 30% final dividend payout this week. The board fixed Friday, Jul 28, 2023, as the record date for the 30% final dividend.

On May 16, 2023, the company announced that its board has recommended a final dividend of 30% for the financial year 2022-23 i.e. Rs 3/- per equity share of the face value of Rs 10/- each on the paid-up share capital. IOCL has a market cap of Rs 1,40,252.14 Crore.

"the Company has fixed Friday, 28" July 2023 as the "Record date" for the purpose of ascertaining the eligibility of members for payment of final dividend of Rs. 3/- (Rupees Three Only) per equity share on the face value of Rs. 10/- each for the year 2022-23," the board said in a filing.

"the Board has recommended a final dividend of 30% for the year 2022-23 i.e. Rs. 3/- per equity share of face value of Rs.10/- each on the paid-up share capital, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend would be fixed and intimated in due course," the board said in a filing.

On Friday, the stock of IOCL closed 0.53% higher at Rs 99.32 apiece with an intraday high of Rs 99.79 and an intraday low of Rs 99.50 apiece on BSE, respectively. The stock is currently trading 2.13% away from its 52-week high of Rs 101.44 apiece. Its 52-week low is Rs 65.20 apiece.

The stock jumped 2.88% in the past 1 week. It gained 26.96% in the past 3 months. In the past 1 year, it gained 36.80%, while in the 2 and 3 years, it gained 41.14% and 59.42%, respectively. However, it declined 7.48% in 5 years. It gained 165.21% in the past 5 years.

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