Indian Oil Announces Rs 7/Share Dividend in 2024: Key Dates and Information

 Great news for investors in Indian Oil Corporation (IOC)! The company recently declared a dividend of Rs 7 per share for the financial year 2023-24. This article provides a comprehensive overview of the dividend payout, including key dates and essential details.

Dividend Announcement:

On [Date of announcement], Indian Oil Corporation announced a final dividend of Rs 7 per equity share for FY 2023-24. This news comes after the company declared two interim dividends of Rs 8 per share earlier in the year. This translates to a total dividend of Rs 23 per share for the financial year.

Key Dates:

• Record Date: The record date for determining eligible shareholders for the dividend payout will be announced shortly. This is the date on which you must be a registered shareholder of IOC to receive the dividend.
• Payment Date: The company will announce the expected payment date for the dividend within 30 days of the record date. This is the date when the dividend will be credited to the bank accounts of eligible shareholders.

How to Check Your Eligibility:

To be eligible for the dividend payout, you must be a registered shareholder of IOC on the record date. You can check your eligibility by contacting your broker or depository participant.

Additional Information:

• This dividend announcement is subject to approval by the shareholders at the upcoming Annual General Meeting (AGM) of IOC.
• The dividend payout will be subject to Tax Deducted at Source (TDS) as per applicable tax laws.

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Stay Updated:

Keep an eye on the official website of Indian Oil Corporation (https://iocl.com/) and stock exchange announcements for the latest updates regarding the record date and payment date for the dividend.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.