3.50/Share Dividend: Miniratna PSU Declares Interim Dividend, Don't Miss Payment Date

Oil India on Wednesday pleased its shareholders after the state-run oil producer declared an interim Dividend of Rs. 3.50/- per share (35% of paid-up capital) for the financial year 2023-24. The Interim dividend declared shall be paid on or before December 8, 2023. Today, the share price of Oil India Limited closed 0.25% lower at Rs 310.70 per share on BSE.

In the last one year, Oil India stock has delivered almost 58% returns. Oil India, is one of the public sector undertaking (PSU) stocks that is part of the top 10 dividend-paying companies, according to domestic brokerage firm Religare Broking.

The company has fixed November 22, 2023, as the Record Date for ascertaining the eligibility of shareholders for payment of Interim Dividend 2023-24.

Along with the dividend announcement, today the company also declared its results for the quarter ending September 30, 2023.

In its Q2 results, the company said that its consolidated net profit declined 70% year-on-year at Rs 640 crore compared to a net profit of Rs 2,116 crore in the same quarter last year.

During this period, the company's Revenue from operations stood at Rs 8,816 crore, down 13% from Rs 10,121 crore last year.