BPCL Shares crack 4.6 pc post announcement of 2nd Interim Dividend

The state-run oil refining conglomerate Bharat Petroleum Corporation (BPCL) has announced a second interim dividend of Rs. 5 per share for the fiscal year 2021. In an exchange filing, the company said "The Board of Directors has declared 2nd Interim Dividend of Rs.5/- per equity share of face value Rs.10/- each for the Financial Year 2020-21".

Reacting to the announcement, however, the Shares of Bharat Petroleum Corporation (BPCL) slipped at a maximum level (intraday) on March 17, 2021 on the National Stock Exchange. The scrip touched today's low price of Rs. 432.55 per share on the NSE. On the BSE, the stock made a high of Rs. 446.6, while a low of Rs. 434.6 in today's session.

The fall in the share price of BPCL comes as investors expected dividend declaration by BPCL in the range of Rs. 40-50 per share. The record date to determine the eligibility of shareholders to receive the dividend has been fixed as Saturday, March 27. The interim dividend will be paid or the warrants in respect thereof would be posted on or before 12th April, 2021.

During midsession at 12.30, the Sensex touched at 50257-mark down by 106 points, and the Nifty stood at 14850, down 60 points.

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