Highest Dividend In 2023 In History: Multibagger Refineries PSU To Mull Dividend On April 24

Small cap public sector undertaking (PSU) from the refineries industry Chennai Petroleum Corporation will consider financial results on April 24, 2024. The company may consider declaration of dividend for the financial year 2023-24. Earlier in 2023, Chennai Petroleum Corporation declared highest dividend in its entire history.

Last trading price of Chennai Petroleum Corporation share on BSE is Rs 910.15 per share with intraday fall of 1.54%. The company has a market capitalisation of Rs 13,553 crore. In last 1-year, Chennai Petroleum Corporation shares offered traders return of 256% in last 1-year. More details about Chennai Petroleum Corporation below:

Chennai Petroleum Corporation To Consider Results, Dividend: As per the BSE filing of the company dated April 16, 2024, "a Board Meeting of the Company is scheduled on Wednesday, 24th April 2024, inter alia, to consider and approve Standalone as well as Consolidated Audited Financial Results of the Company for the quarter and year ended 31 March 2024. It is also hereby informed that Board may consider declaration of dividend for the financial year 2023-24, if any, at the aforesaid Board Meeting."

Chennai Petroleum Corporation Share Performance & Return: The 52-week high price of Chennai Petroleum Corporation share on BSE is Rs 1036.00 per share and 52-week low price is Rs 252.80 per share, respectively. Chennai Petroleum Corporation shares gave return of 72% in last 6-months, zoomed 420% in last 2-years, and gained a massive 831% in last 3-years. In last 5-years, Chennai Petroleum Corporation stock surged 245%.

Chennai Petroleum Corporation Dividend History: Chennai Petroleum Corporation declared highest dividend of Rs 27/share in 2023, its highest ever dividend in its entire history. Chennai Petroleum Corporation declared 18 dividends since August 16, 2000. In last 12 months, Chennai Petroleum Corporation declared an equity dividend amounting to Rs 27.00 per share. At the current share price of Rs 910.15, Chennai Petroleum Corporation offers dividend yield of 2.96%.

Chennai Petroleum Corporation Financials: Chennai Petroleum Corporation Ltd (CPCL) declared its standalone net profit for the quarter ended December 31, 2023 more than doubled to Rs 360 crore as against Rs 143 crore declared in the corresponding quarter of last year amid surge in the topline. Meanwhile, the company's revenue from operations announced at Rs 20,454 crore for the December 2023 quarter, up 6.5% as compared to Rs 19,214 crore in the similar quarter of last year. Total expenses came higher at Rs 19,975 crore as against Rs 19,030 crore in the year-ago quarter.

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

Chennai Petroleum Corporation 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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