The company declared an interim dividend of 67.5 percent i.e. Rs. 6.75 per equity share of face value of Rs 10 each for the financial year 2018-19.
Share price of oil marketing company, Indian Oil Corporation (IOC) rose 3.6 percent intraday in the early trade on Friday after company approved buyback of equity shares.
The company board approved the buyback of up to 29,76,51,006 equity shares being approximately 3.06 percent of the total paid up equity share capital of the company at a price of Rs 149 per equity share payable in cash for an aggregate consideration not exceeding Rs 4,435 crore.
The company declared an interim dividend of 67.5 percent i.e. Rs. 6.75 per equity share of face value of Rs 10 each for the financial year 2018-19.
The dividend will be credited to the account of the shareholders or the dividend warrant in respect thereof will be dispatched on or before December 31, 2018.
Company has fixed December 25, 2018 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend as well as for buyback of equity shares.
At 09:24 hrs Indian Oil Corporation was quoting at Rs 141.25, up Rs 4.05, or 2.95 percent.
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