Business News›Markets›Stocks›Earnings›IOC announces final dividend of Rs 7 per share
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Synopsis
The final dividend is in addition to an interim dividend of Rs 5 per share, which was paid during the year. The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend will be intimated in due course.
ReutersThe board of Indian Oil Corporation has recommended a final dividend of Rs 7 per equity share in the meeting on Tuesday while announcing its Q4 results.
The final dividend is in addition to an interim dividend of Rs 5 per share, which was paid during the year.
The final dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of final dividend will be intimated in due course.
The company has posted a PAT of Rs 4,838 crore in the March quarter, down 40% QoQ as against Rs 8,063 crore reported in the December quarter. Further, the revenue is down 1% QoQ to Rs 2.19 lakh crore.
The IOC board has also approved the implementation of 1 GW installed capacity of Renewable Energy (RE) projects comprising standalone ground mounted solar or standalone onshore wind or wind-solar hybrid projects at an estimated cost of Rs 5,215 crore.
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The shares of IOC fell by 5% on Tuesday to the day’s low at Rs 168 on the BSE.
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