One of the much-awaited bonus shares and dividend recommendations by a leading oil marketing company, BPCL was announced on May 9th. BPCL announced its first bonus share in seven years, while it exited FY24 with a huge Rs 42 per share dividend including the upcoming final dividend of Rs 21 per share. The company has fixed the record dates for both bonus shares and dividends.
BPCL Bonus Shares:
The company's board has recommended the issuance of bonus shares in the ratio of 1:1. Meaning that 1 new bonus equity share will be allotted free of cost against 1 existing BPCL share held by investors. The face value of these shares is Rs 10 each.
BPCL has fixed June 22, 2024, as the record date to determine the eligibility of shareholders to receive bonus shares.
It said the Bonus Shares shall rank pari passu in all respects and carry the same rights as the existing equity shares of the Company.
This 1:1 bonus share comes after 7 years.
Notably, BPCL has a long history of distributing bonus shares to its investors. In July 2017, BPCL rewarded the 1:2 bonus issue, while 1:1 bonus shares were allotted each in July 2016, and July 2012, and two of 1:1 each in January 2001.
BPCL Dividend:
Apart from bonus shares, BPCL also recommended a final dividend of Rs. 21/- per equity share of the face value of Rs.10/-each (pre-bonus), which translates into a final dividend of Rs.10.5/- per equity share of the face value of Rs.10/- per equity share) (post-bonus), subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM).
The final dividend would be paid within 30 days from the date of its declaration at the AGM. The Record Date for the final dividend will be intimated separately.
For FY24, earlier, the company delivered a Rs 21 per share dividend for which it turned ex-dividend on December 12, 2023. Taking the latest dividend, BPCL's total dividend payout is about Rs 42 per share.
Currently, BPCL has a dividend yield of 4.22%. As per Trendlyne data, the company has delivered up to 40 dividends since June 2001.
BPCL Earnings:
On a consolidated basis, BPCL posted a net profit of Rs 4,789.57 crore in Q4FY24, lower from PAT of Rs 6,870.47 crore in Q4FY23, but better from Rs 3,181.42 crore in Q3FY24. Meanwhile, revenue from operations stood at Rs 1,32,086.86 crore, as compared to Rs 1,33,419.56 crore in Q4FY23 and Rs 1,29,984.84 crore in Q3FY24.
The Average Gross Refining Margin (GRM) of the Corporation for the year ended 3i5t March 2024 is $14.14 per barrel (FY 2022-23: $20.24 per barrel).
BPCL Share Price:
BPCL's share price ended at Rs 592.30 apiece, down by 4.6% on BSE with a market cap of Rs 1,28,484.84 crore. Nonetheless, BPCL is a multibagger OMC stock.
The stock's 52-week high and low is at Rs 687.65 and Rs 331.50 respectively.
YTD, BPCL shares are up by 31.07%, while in a year, the stock gained by 59.16%. Further, in 5-years, the stock zoomed by 63%. But its all-time gain is a whopping 2,393.89%, The stock was around Rs 23.75 on November 1, 1996.
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