This Multibagger Oil Stock Announces Record Date for Dividend; Know Details

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Multibagger Stocks in 2022: Chennai Petroleum Corporation Limited (CPCL) has set a record date for dividend for FY21-22. The Board of Directors of the company said in a regulatory filing that “The Company has fixed Wednesday, August 10′”, 2022 as the “Record Date” for the purpose of determining the eligibility of the members to receive an equity dividend of Rs.2.00 per share (i.e. @ 20 per cent on the paid up equity share capital) for the financial year 2021-22. The dividend, if approved by the members at the AGM, will be paid within the stipulated period of 30 days of its approval.”

It recommended a dividend of Rs 2 per equity share of the face value of Rs 10 each (20 per cent on paid-up equity share capital), for the Financial Year 2021-22, subject to the approval of members of the Corporation in the 56th Annual General Meeting scheduled to be held on August 23, 2022. The record date for the purpose of a dividend would be August 10, 2022. The dividend would be paid to the eligible members within a period of 30 days from the date of declaration that is the AGM date, electronically, through various online modes to those members who have updated their bank account details or through any other permissible mode.

Share Price History

The shares of Chennai Petroleum Corporation Limited closed today at Rs 270.50 apiece, down by 2.33 per cent from the previous close of Rs 276.95. The stock price climbed from Rs 114.55 on August 4, 2021 to its current level during the course of the past year, representing a multibagger return of 136.14 per cent. The stock price has climbed from Rs 103.30 on January 3, 2022, to the current level on a YTD basis, representing a multibagger return of 161.86 per cent to date in 2022. The price has soared from Rs 113.40 on February 4, 2022, to the current level during the past six months, representing a multibagger return of 138.54 per cent. The stock has dropped 9.70 per cent over the past month, and 3.84 per cent during the past five trading days.

Chennai Petroleum Corporation Ltd., incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 4,031.03 Crore) operating in Gas & Petroleum sector. Chennai Petroleum Corporation Ltd. key Products/Revenue Segments include Petroleum Products, Other Operating Revenue, Scrap and Power for the year ending 31-Mar-2021.

At the current price level of Rs 270.50, the stock is trading 35.26 per cent below its 52-week low and 186.39 per cent above its 52-week low on the NSE, where it reached a 52-week high of Rs 417.85 on 08-June-22 and a 52-week low of ₹94.45 on 24-February-22. On the NSE 9,76,227 shares were traded today amounting to a traded value of Rs 2,657.97 lacs. The last 20-day average volume is 2,739,975 shares. At the current market price of Rs 270.50 the stock is trading lower than 5 days, 10 days, 20 days, 50 days EMA but higher than 100 days and 200 days Exponential Moving Average (EMA).

For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 27,453.46 Crore, up 67.12 per cent from last quarter Total Income of Rs 16,426.91 Crore and up 236.10  per cent from last year same quarter Total Income of Rs 8,168.24 Crore. The company has reported net profit after tax of Rs 2,358.75 Crore in latest quarter.

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