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Oil India Limited declared a dividend of ₹8.5 per share: State-owned oil and gas company Oil India Limited (OIL) declared a dividend of ₹8.5 per share on March 8, 2024. This dividend will be given to the shareholders of the company on the record date till March 18, 2024. The dividend amount will be deposited in the accounts of all investors by April 7, 2024.
Performance of Oil India Limited
Shares of Oil India Limited have seen a rise of 100% in the last three months. This stock gave a return of 140% last year and 400% in the last three years.
Other important decisions in the board meeting
In the board meeting of Oil India Limited, investment in the company’s subsidiary Numaligarh Refinery Limited (NRL) has also been approved. The cost of the Coke Drum Structural Package (CDSP) project is Rs 635.28 crore.
This dividend announcement and investment in NRL are positive developments for the company. This will help in attracting investors and enhancing the prospects of the company.
About Oil India
Oil India Limited (OIL) is an Indian government company that finds oil and natural gas underground. They also transport the oil and make liquid petroleum gas (LPG) that we use for cooking. OIL is a publicly traded company on the National Stock Exchange (NSE) in India. Dr. Ranjit Rath is the chairman of OIL. The company was founded in 1959 and has about 7,000 employees. The Indian government owns more than half of the company.
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