PSU Dividend: Refineries PSU To Go Ex-Dividend For Rs 55/Sh Dividend, Shares Up 665% In 3-Yrs

Public sector undertaking (PSU) from the refineries industry Chennai Petroleum Corporation share will hit ex-date on July 19 for Rs 55.00 per share dividend, highest ever dividend declared in its history. Current market price of Chennai Petro share on BSE is Rs 1046.95 per share. Chennai Petroleum Corporation Limited share offered attractive return of 665% in last 3-years and 136% in last 1-year. It offers an attractive dividend yield of 2.58%. More details below:

Chennai Petroleum Corporation To Trade Ex-Dividend On July 19: As per the exchange filing of Chennai Petroleum Corporation announced on July 7, "it is hereby informed that the Company has fixed Friday, the 19 July, 2024 as the "Record date" for the purpose of ascertaining the eligibility of members for payment of final equity dividend of Rs. 55/- (Rupees Fifty-five Only) per equity share on the face value of Rs. 10/- each for the year 2023-24." Earlier this year, the refineries PSU announced a final equity dividend of Rs 55/- per equity share on the face value of Rs 10/- each for 2023-24.

Chennai Petroleum Corporation To Hold AGM on Aug 7, 2024: The company informed on July 8 about its 58th Annual General Meeting (AGM) of the Company for the year 2023-24 scheduled to be held on August 7, 2024.

CPCL Dividend History: Chennai Petroleum Corporation announced 19 dividends since August 16, 2000. In last 1-year, Chennai Petroleum Corporation announced an equity dividend amounting to Rs 27.00 per share. At the current share price of Rs 1046.95, Chennai Petroleum Corporation offers a dividend yield of 2.58%.

Investor Dolly Khanna's Stake: Ace investor Dolly Khanna has stake Chennai Petroleum with 1.09% stake or 16,18,520 shares of the company.

Shareholding: FII/FPI have decreased holdings from 15.86% to 15.77% in Jun 2024 qtr. Number of FII/FPI investors increased from 250 to 253 in June 2024 quarter. Mutual Funds have increased holdings from 0.22% to 0.35% in June 2024 quarter. Number of MF schemes increased from 12 to 14 in June 2024 quarter.

Chennai Petroleum Corporation Share Performance: The 52-week high price of Chennai Petroleum Corporation share on BSE is Rs 1122.90 per share (as on 26/04/2024) and 52-week low price is Rs 347.30 per share (as on 16/08/2023), respectively. CPCL has a market capitalisation of Rs 15,590.28 crore. Chennai Petroleum Corporation shares offered over 10% gain in last 1-week, soared 49% year-to-date, jumped 136% in last 1-year, and zoomed 288% in last 1-year. In last 10-years, Chennai Petroleum Corporation shares offered eye-catching return of 1120%.

How To Be Eligible For Chennai Petroleum Corporation Dividend? Record date plays key role in deciding eligibility of shareholders for obtaining dividend income. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. Chennai Petroleum Corporation fixed record date as July 19, 2024 for dividend of Rs 55/- per share.

Chennai Petroleum Corporation Latest Financial Results: The PSU declared a surge of 71.9% in Q4 FY 2024 net profit to Rs 627.89 crore as compared to Rs 365.28 crore declared in the December 2023 quarter, and Rs 1012.81 crore declared in March 2023 quarter. Revenue from operations announced at Rs 20,822.95 crore for Q4 from Rs 20, 453.94 crore declared in December 2023 quarter and Rs 21350.005 declared in March 2023 quarter.

It declared total income at Rs 20,826.44 crore for the quarter ended March 31, 2024 as against Rs 20456.42 crore declared in December 2023 quarter and Rs 21,351.83 crore announced in March 2023 quarter.

Total expenses for March 2024 quarter announced at Rs 19,982.92 crore as against Rs 19,975.37 crore in December 2023 quarter and Rs 19,964.20 crore in March 2023 quarter.

About: CPCL, formerly known as Madras Refineries Limited (MRL) was formed as a joint venture in 1965 between the Government of India (GOI), Amoco and National Iranian Oil Company (NIOC). CPCL became a subsidiary of IOCL in 2001. CPCL Manali refinery is one of the most complex refineries in India with Fuel, Lube, Wax and Petrochemical feedstocks production facilities. CPCL meets the energy needs of Tamilnadu State and parts of neighbouring States, according to its official website.

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