This Maharatna Stock Fixes Record Date For Final Dividend - Should You Buy?

High-yield dividend stocks give the impression that stock buying is a dull but frequently very lucrative endeavour. Nothing is wrong with that at all. As an investor, you can use a few important criteria to gauge how well an investment is performing and how much cash flow it is generating.

Indian Oil Corporation Ltd, a Maharatna company, has declared a final dividend in May 2022. The declared dividend will soon turn ex-dividend. Should you buy the stock? Let's know!

IOC Final Dividend for the year 2021-22

The board of directors of the Company recommended the final dividend on 17th May 2022. According to the company's filing to the stock exchanges at the Board meeting, which was held on 17th May 2022, the company has declared a final dividend of 24% i.e., Rs 2.4 per equity share.

The company in its filing to NSE & BSE has stated, "It is further informed that the Board has recommended a final dividend of Rs. 3.60 per equity share having face value of Rs. 10/- each (pre-bonus), which translates into final dividend of Rs 2.40 per equity share having face value of Rs. 10/- each (post-bonus) for financial year 2021-22, subject to the approval of the shareholders of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. The final dividend is in addition to the Interim Dividend(s) of Rs. 9.00 per share (pre-bonus) paid for the financial year 2021-22. The record date for payment of final dividend would be fixed and intimated in due course."

Ex-Dividend & Record Date- The ex-dividend date of the announced dividend is 11th August 2022, and the record date is 12th August 2022.

IOC Dividend History

Indian Oil Corporation Ltd. is a Maharatna company and it has maintained a good track record of dividend payouts. The company has declared 36 dividends since August 27, 2001. Out of 36 declared dividends, 20 are final dividends and the rest 16 are Interim dividends. The company has a good dividend track report and has consistently declared dividends for the last 21 years. In 2022, the company has declared 64% equity dividends amounting to Rs 6.4 per equity share.

IOC Stock Performance

IOC's Current Market Price is Rs 72.75 per share, today it was opened at Rs 74 per share. The stock has recently hit the 52-week low of Rs 67.70 per share. The 52-week high of the stock is Rs 94.33 per share. The CMP of the stock above Rs 5.05 above the 52-week low levels of the stock. In past one year, the stock has delivered a minor positive return of 0.95%. In past one & three months, the stock gave negative returns of 6.91% and 13.19%, respectively. The fall of the share price is also followed by a long-term investment, Over the last 3 and 5 years, the stock has slid nearly 28.1% & 42.65%, respectively. 

About- Indian Oil Corporation Ltd

Indian Oil Corporation Ltd is a Maharatna Company controlled by Government of India that has business interests straddling the entire hydrocarbon value chain - from Refining, Pipeline transportation and marketing of Petroleum products to R&D, Exploration & production, marketing of natural gas and petrochemicals. It has a leadership position in the Oil refining & petroleum marketing sector of India. The company has over 32,000 Fuel Stations spread across India. Indian Oil has a Solar PV capacity of around 70 MW & Wind Capacity of 168 MW, with a total renewable energy capacity of nearly 240 MW.

Disclaimer

The stock has been sourced from NSE. Greynium Information Technologies, and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.