IOC board finalise 1:2 bonus share issue: Check Details

IOC board finalise 12 bonus share issue




On Tuesday, Indian Oil Corporation said that its board of directors had considered and approved a share bonus issue.

The company said that it will issue shares at a 1:2 ratio, which means, one new bonus equity share for every two existing equity shares.

The allotment is subject to shareholder approval by postal ballot. The Board has set July 1, 2022, as the record date for determining shareholder eligibility for bonus shares.

Meanwhile, the oil marketing company reported a consolidated net profit of Rs 6,645.72 crore for the March quarter, a 26.37 percent decrease from Rs 9,026.49 crore in the same quarter last year. However, its operating revenue increased by 26.13 percent from Rs 165,734.27 crore to Rs 209,049.16 crore in the same quarter last year.

The company's board of directors also proposed a final dividend of Rs 3.60 per equity share with a face value of Rs 10 each (pre-bonus), which equates to a final dividend of Rs 2.40 per equity share with a face value of Rs 10 each (post-bonus) for the fiscal year 2021-22.

The final dividend would be paid within 30 days following the AGM's announcement. The final dividend would be paid in addition to the Interim Dividend(s) of Rs 9.00 per share (pre-bonus) paid for the fiscal year 2021-22.

The average gross refining margin (GRM) for April–March 2022 was $11.25 per barrel (April–March 2021: $5.64 per barrel), according to the company. The core GRM, or current price GRM, for April to March 2022 is $7.61 per barrel after accounting for inventory loss and gain.

Post a Comment

Comments are welcomed and encouraged on Stuffsearth Website, but there are some instances where comments will be edited or deleted as follows:

Comments deemed to be spam or solely promotional in nature will be deleted. Including a link to relevant content is permitted, but comments should be relevant to the post topic.
Comments including profanity will be deleted.
Comments containing language or concepts that could be deemed offensive will be deleted. Note this may include abusive, threatening, pornographic, offensive, misleading or libelous language.
Comments that attack an individual directly will be deleted.
Comments that harass other posters will be deleted. Please be respectful toward other contributors.
Anonymous comments will be deleted. We only accept comments from posters who identify themselves.
The owner of this Website reserves the right to edit or delete any comments submitted to the 'Website's Post/Content' without prior notice. This comment policy is subject to change at any time. If you have any questions about the commenting policy, please let us know by using our 'Contact Us' form .

To Top