Rs 55/Share Dividend: Multibagger Refineries PSU Sets July 19 As Record Date, Eligible?

Public sector undertaking (PSU) from the refineries industry Chennai Petroleum Corporation today fixed July 19, 2024 as the record date for dividend. Last trading price of Chennai Petroleum Corporation Ltd share on BSE is Rs 947.85 per share with intraday fall of 1.80% as on July 5, 2024. Chennai Petroleum Corporation share offered attractive return of 34.86% year-to-date and rose 121.64% in last 1-year. The PSU on April 24, 2024 declared massive dividend of Rs 55 per share. The company has a market capitalisation of Rs 14,114.57 crore. Check details below:

Chennai Petroleum Corporation Sets Record Date For Dividend: As per the regulatory filing of Chennai Petroleum Corporation issued as on July 7, 2024, "This is further to our communication dated 24® April, 2024, wherein it was informed that the Board of Directors of Chennai Petroleum Corporation Limited at their Board Meeting had recommended a final equity dividend of Rs. 55/- per share (i.e.@ 550% on the paid-up equity share capital) for the financial year 2023-24, subject to the approval of the members of the Company in the forthcoming Annual General Meeting (AGM) of the Company.

Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, 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."

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. Chennai Petroleum Corporation shares slipped over 3% in last 1-week, gained 31% in last 6-months, offered return of 223% in last 2-years, and surged 565% in last 3-years. In last 10-years, Chennai Petroleum Corporation shares zoomed 882%.

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.

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 Financials: Chennai Petroleum Corporation announced growth of 71.9% in Q4 FY 2024 net profit to Rs 627.89 crore as against Rs 365.28 crore announced in the December 2023 quarter, and Rs 1012.81 crore declared in March 2023 quarter. Its revenue from operations declared at Rs 20,822.95 crore for Q4 from Rs 20, 453.94 crore announced in December 2023 quarter and Rs 21350.005 declared in March 2023 quarter.

The PSU announced its 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.

Disclaimer: The stock highlights the record date for dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.