Indian Oil Dividend 2024 Record Date: Indian Oil Corporation (IOC) has announced to reward its investors by paying dividend. The state-run company made the announcement regarding the next dividend payment in its Q4 results FY2024 (quarterly result). IOC dividend 2024 record date announcement is yet to be done.
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This is the final dividend which Indian Oil has announced for the financial year 2023-24.
Indian Oil Dividend 2024
According to exchange filing by the company, the board has declared a 70 per cent dividend on each stock Rs 10.
A dividend is a cash reward that a company pays to its shareholders for their investment in the business. It is always calculated and paid on the face value of each stock. Accordingly, the 70 per cent dividend announced by Indian Oil translates into a payout of Rs 7.
“The Board has recommended a final dividend of 70% for the year 2023-24 i.e. Rs. 7.00 per equity share of face value of Rs 10 each on the paid-up share capital,” the company said.
Indian Oil Dividend 2024 Record Date
Indian Oil didn’t announce the record date in its latest filing. It, however, said that the record date for payment of final dividend would be fixed and intimated in due course.
“The record date for payment of final dividend would be fixed and intimated in due course,” the company said in a statement.
Indian Oil Dividend 2024 Payout Date
The dividend is 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.
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“The final dividend would be paid within 30 days from the date of declaration at the AGM,” Indian Oil said in an exchange filing.
IOC Dividend History
According to BSE website, Indian Oil paid a dividend of Rs 5 and Rs 3 in November and July last year, respectively. In 2022, the company paid a dividend of Rs 6.40 on each stock.
Back in 2021, Indian Oil had paid a dividend of Rs 17 on each stock to its investors.
Indian Oil Share Price Target 2024
Domestic brokerage firm Motilal Oswal has assigned a BUY call on Indian Oil shares for a target price of Rs 195.
Last week, ET NOW panellist and market expert Nooresh Merani had also advised to BUY Indian Oil shares for a target of Rs 200.
Indian Oil Share Price History
According to BSE Analytics as on May 24, Indian Oil shares have delivered a positive return of 63 per cent in the last six months and 88 per cent in a year. IOC shares have delivered a multibagger return of 113 per cent in the last two years and 131 per cent in three years.
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Indian Oil shares have a 52-week range of Rs 196.80 – Rs 81.40.
Indian Oil is a state-run oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas.
