Maharatna PSU HPCL announces for bonus share along with Dividend know details

HPCL Bonus Share: Hindustan Petroleum Corporation Limited (HPCL) released its March quarter results on Thursday 9 May. The company's net profit has declined by 25 percent in the fourth quarter between January and March of the financial year 2023-24, but even after this the company has announced to give one bonus share and dividend for every two shares.

HPCL has informed in its exchange filing that it has achieved a consolidated net profit of Rs 2,709.31 crore in the fourth quarter between January to March 2024. During this period last year, the consolidated net profit of the company was Rs 3,608.32 crore. In such a situation, there has been a decline of 25 percent in the company's profit in the last one year.

The company has earned US $ 6.93 on converting each barrel of crude oil into fuel this quarter. Earlier last year it was US $ 8.50. In such a situation, there has been a decline in the company's earnings this year.

Dividend also announced along with bonus shares

The Board of Directors of HPCL has announced to give one share for every two shares. In such a situation, shareholders will get one share bonus for every 2 shares. The company has fixed the record date for bonus shares as 21 June 2024. Apart from the bonus shares, the company has also announced a dividend of Rs 16.50.

Company shares fell after the results

After the announcement of fourth quarter results by HPCL, the company's shares fell by about 3.50 percent and closed at 504.40 percent on NSE. During trading the company had reached a low of Rs 497. Earlier, the company had reached its 52-week low of Rs 239.25 in October 2023.

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