BPCL Shareholders Alert: Maharatna Large Cap PSU Stock To Trade Ex-Dividend Today; Check Details

BPCL Share News: Today is an important day for the shareholders of Bharat Petroleum Corporation Ltd (BPCL) as the large cap PSU stock from the Gas & Petroleum sector will trade ex-dividend on Tuesday (December 12). The state-run oil marketing company announced an interim dividend of Rs 21 per share given the face value of Rs 10 per share, a 210% payout on November 29, 2023.

BPCL shares last closed 0.98% lower at Rs 465.90 per share. At this price, the company commands a market capitalization of Rs 1,01,065.49 crore.

The PSU company has earlier announced an interim dividend of Rs 21. Shares will trade ex-dividend on December 12. On December 6, 2023, the share price of BPCL traded at a new 52 Week High value of Rs 482.05. Prior to this BPCL shares traded 52 Week High value of 476.40 on December 5, 2023.

In an exchange filing on November 29, 2023, the company said, "In continuation of our letter dated 21st November 2023, this is to inform you that the Board of Directors at its meeting held on 29th November 2023 has declared an Interim Dividend of Rs 21/- per equity share of face value Rs 10/- each i.e. 210% for the financial year 2023-24."
The Board of Directors of the company had fixed Tuesday, December 12, 2023, as the record date to determine the eligibility of the shareholders to receive the said Interim Dividend.

According to Trendlyne's date, Bharat Petroleum Corporation Ltd. has declared 40 dividends since June 18, 2001. In the past 12 months, Bharat Petroleum Corporation Ltd. has declared an equity dividend amounting to Rs 4.00 per share. The stock has a dividend yield of 0.86%.

BPCL share price history

BPCL shares have gained 29.56% in the last six months. In the last one year, the returns from BPCL's share price have increased 37.72%. In this year so far the stock has gained 39.66%. The stock's last 2-years and last 3 years performance is up 17.40% and 17.28% respectively.

BPCL share price target:

Brokerage firm Emkay Global has raised its price targets for BPCL Ltd by 9% to Rs 545. The year 2023 has turned out to be the best year for India's state-run oil refiners since 2014 in terms of share price returns.
In its Q2 results, BPCL reported a consolidated net profit of Rs 8,501.2 crore compared to a net loss of Rs 304 crore in the corresponding quarter last year. For the half year ended September 30, 2023, the Average Gross Refining Margin (GRM) of the BPCL stood at $15.42 per barrel compared to $22.30 per barrel in the year-ago period.

About Bharat Petroleum Corporation Limited:

BPCL, is a Maharatna PSU with a combined refining capacity of over 40 MMT through refineries in Mumbai, Kochi, Numaligarh, and Bina, which are strategically located.