BPCL to give ₹21 dividend per share, offers bonus issue in 1:1 ratio

BPCL | Results better than estimates led by the refining segment. Marketing continues to remain weak. Revenue down 9% sequentially, while EBITDA is down 19%. EBITDA margin narrows by 60 basis points. Gross Refining Margin at 18.5% vs estimate of 16.5%.

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Thursday (May 9) said its board has recommended the issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of ₹10 each for an existing fully paid-up equity share of ₹10.

“…we wish to inform that the Board has recommended the issue of Bonus Shares in the ratio of 1:1 i.e. one new bonus equity share of Rs. 10/- each for every one existing equity share of ₹10/- each fully paid up subject to the approval of shareholders through postal ballot, according to a stock exchange filing.

The board has fixed Saturday, June 22 as the record date to determine the eligibility of shareholders to receive bonus shares. The bonus shares will rank pari passu in all respects and carry the same rights as the existing equity shares of the company.

Also, the board has recommended a final dividend of ₹21 per equity share of face value of ₹10 each (pre-bonus), which translates into a final dividend of ₹10.5 per equity share of face value of ₹Rs 10 per equity share) (post-bonus), subject to the approval of the shareholders at the ensuing annual general meeting (AGM).