1:2 Bonus Share Recommended: Maharatna Oil PSU To Reward Free Shares, Check Eligibility

Board of Directors of large cap Maharatna status public sector undertaking Oil India Ltd today declared 1:2 Bonus share and fixed July 2, 2024 as the record date to determine eligibility of shareholders to receive bonus share. Last trading price of Oil India Ltd share on BSE is Rs 646.30 per share. Oil India share jumped 4.39% in last 1-week and soared 141% in last 1-year. Oil India has a dividend yield of 2.71% and a PE of 13.20. Life Insurance Corporation Of India (LIC) has 8.04% stake in Oil India with 87,156,697 shares of the company. Its market capitalisation is Rs 70,085.11 crore. More details below:

Oil India Recommends Bonus Share: According to the BSE filing of Oil India dated May 20, "Further, the Board has recommended issue of Bonus Shares in the ratio of 1:2 i.e. 01 (one) equity share of Rs. 10/- each for every 02 (Two) existing equity shares of Rs. 10/- each fully paid up subject to the approval of shareholders through Postal Ballot [E-Voting]. The Board has fixed Tuesday, 02nd July, 2024 as Record Date to determine the eligibility of shareholders to receive bonus shares."

How To Be Eligible To Receive Oil India Bonus Share? Shareholders who hold Oil India's shares before the ex-date and record date will become eligible to receive bonus shares from the company. Eligibility for bonus shares will depend on record date and ex-date of the shareholders. The record date is the cut-off date that the company sets. In Oil India case, record date is July 2.

Oil India Dividend History: The PSU announced 35 dividends since February 10, 2010. In last 1 year, Oil India announced an equity dividend amounting to Rs 17.50 per share. At the current share price of 619.10, Oil India offers a dividend yield of 2.71%.

Oil India Share Performance & Return: 52-week high price of the Maharatna PSU share on BSE is Rs 669.05 apiece (as on 03/04/2024) and 52-week low price is Rs 240.65 per share (as on 26/06/2023), respectively. Oil India shares soared 71% year-to-date, gained 105% in last 6-months, offered massive 382% return in last 3-years.
Oil India Bonus Share History: Before today's bonus share, Oil India offered 3 bonuses since March 29, 2012. The last Bonus that Oil India declared was in the ratio 1:2 with ex-date fixed as March 27, 2018.

Oil India Announces Nomination of Government Nominee Directors: The BSE filing stated, "This is with reference to the Ministry of Petroleum & Natural Gas (MoP&NG) letter no. CA-31032/1/2021-PNG-37493 dated 10.05.2024 regarding nomination of Government Nominee Directors on the Board of the Company, viz.:
(i) Shri Rohit Mathur, Joint Secretary, MoP&NG vice Shri Vinod Seshan, Director, MoP&NG,
(ii) Shri George Thomas, Deputy Secretary, MoP&NG."

About: Oil India Limited (OIL) is a fully integrated Exploration & Production company in the upstream sector, with origin dating back to the glorious year (1889) of oil discovery in India. A Maharatna Company, OIL is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas and is the second largest national oil and gas company in India. The story of OIL traces and symbolizes the growth and development of the Indian petroleum Industry, according to its official website.

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