Amidst the ongoing LPG crisis, petroleum refining company Indian Oil Corporation (IOC) is in focus. The PSU is all set to draw up the final list of shareholders eligible for its interim dividend payout.
The record date for the eligibility has been set for March 12, and the company will pay out an interim dividend of Rs 2 per equity share, with each share having a face value of Rs 10.
When is the payout date?
According to IOC’s regulatory filing, the shareholders will receive the interim dividend on or before April 5.
This marks the second interim dividend payout by the company for FY26. The oil company had paid an interim dividend of Rs 5 in Q2.
IOC prioritising domestic consumers
In a joint media statement, oil marketing majors IOC, Hindustan Petroleum and BPCL have said that amid the ongoing geopolitical disruptions, the companies are prioritising LPG production for domestic and essential non-domestic sectors like hospitals and educational institutions.
“In light of current geopolitical disruptions affecting global fuel supply, steps have been taken to enhance LPG production and prioritise its availability for domestic consumers and essential non-domestic sectors such as hospitals and educational institutions,” the companies said.
They added that requests from other non-domestic sectors will be reviewed by a committee of Executive Directors from oil marketing companies and prioritised based on merit, necessity, and product availability.
Source: IOC, X account
The ongoing conflict in West Asia has begun affecting the supply of LPG, and India is witnessing a drastic impact.
IOC: Share Price
The IOC share price closed in green at Rs 160.60, up 0.41%. Over the past five trading sessions, the company’s stock has declined by nearly 7%. Over the past one month, the IOC’S stock has declined by more than 11%, while over the past six months, the company’s stock has delivered a return of 12%. Since the past one year the company’s stock has climbed by over 28%.
Over the last 5 years, the share price of Bharat Petroleum Corporation has gained 7.27% CAGR. Over the past year, the corresponding return has been 22.69%.