stock market today: Indian Oil Corporation Limited (IOCL) can announce its fourth quarter results any time today. The Navratna company has informed the Indian markets that its board of directors is going to consider and approve the Q4 results and dividend proposal in its upcoming board meeting to be held today i.e. 16th May 2023. However, Indian Share Market IOC share price has gained momentum much ahead of the announcement of its fourth quarter results for the recently concluded financial year 2022-23.
Dividend stocks opened higher today and moved to intraday highs 86.40 on NSE, which is now its new 52-week high on NSE. But BSE IOC shares also hit a new 52-week high 86.40 per share breaking its previous 52-week high 84.64 per share on BSE. The state-owned stock hit a 52-week high Last week on 10 May 2023 i.e. Wednesday Rs.84.64.
IOC results
In one of its latest exchange communication, IOCL informed the Indian markets about the date of results of IOC, “Pursuant to Regulation 29 (1) and (2) of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, It is hereby informed that the Board Meeting of the Company is to be held on Tuesday, 16th!” May 2023, inter alia, to consider and approve the standalone as well as consolidated audited financial results of the Company for the quarter and year ended 31 March 2023.”
Market is expecting better Q4 results from IOC ICICI Securities A March 3 report said that the last eight weeks have seen strong macros for oil manufacturing companies or OMCs, adding, “The gross refinery margin (GRM) calculated for OMCs (excluding any inventory impact /windfall tax) remains strong at $11-13 per barrel for Q4 FY23 (up to February 24, 2023), down $1-2 per barrel QoQ due to softer diesel and ATF spreads.
ioc dividend 2023
Regarding the consideration and approval of dividend during its May 16 board meeting, the IOC said, “It is also informed that the board may consider declaration of dividend for the financial year 2022-23 in the above board meeting.”
IOC Dividend History
IOC shares are one of the dividend stocks indian stock market, The PSU stock traded ex-dividend twice in 2022. It will be converted into ex-dividend stock on February 9, 2022 for the first payment. 4 per share interim dividend to eligible shareholders. Similarly, IOC shares become ex-dividend stock payable on 11 August 2022 2.40 per share as final dividend to its eligible shareholders.
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