IOCL shares rose nearly 2 per cent during the intraday trade on March 11 as the PSU stock will trade ex-dividend tomorrow amid the oil and gas supply crisis due to the ongoing war in the Middle East.
The shares of India's largest state-owned integrated energy company started the session in green at Rs 160.50 as compared to the last session's closing of Rs 159.94. The Maharatna category stock jumped further to hit an intraday high at Rs 162.99, up 1.9 per cent.
Interim Dividend Announced
Earlier this month, the board of the public sector oil company announced a second interim dividend of 20%, or Rs. 2 for each equity share with a face value of Rs 10, for the fiscal year 2025-2026.
According to its exchange filing, the eligible shareholders will receive the second interim dividend by April 5, 2026, at the latest and March 12 was fixed as the record date.
Also Read: IOCL Share Price Inches Up Nearly 2% Amid Oil Price Pressure; Stock To Trade Ex-Dividend Tomorrow
This financial year so far, Indian Oil has declared dividend for three times, including the latest one. Earlier in August, the company announced a final dividend and in December it declared an interim dividend.
Oil and Gas Supply Crisis
As India imports almost 85 per cent of its total oil requirements, a supply constraint has emerged due to closure of strait of Hormuz, a key oil and gas trade route in Persian Gulf, amid ongoing US-Iran-Israel war. For the past two days, the LPG gas supply in the nation has been disrupted. Hotels and Restaurants across the various key cities including Mumbai, Delhi-NCR, Bengaluru, Chennai and others flagged unavailability of commercial LPG cylinders. Many Hotels and commercial establishments have closed their operations as well.