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Two government-owned oil companies namely BPCL and ONGC are set to turn ex-dividend ahead of the record date on stock exchanges later this week. Both stocks will be in focus due to ex-dividend. Also, ONGC’s quarterly earnings will further sway the stock’s sentiments. ONGC is planning to pay a final dividend of 65% to its shareholders, while BPCL will make a payment of 60% dividend. These final dividends are for the financial year FY22. The ex-dividend date is the day that sets the list of eligible shareholders for the dividend benefit. Generally, when a company earns profit they share a certain portion of the surplus with the shareholders. The majority of the time, big companies announce dividends. Typically, an investor should hold the stocks of a company before the ex- dividend to be eligible for the benefit. ONGC dividend: India’s one of the largest oil and gas explorers and producers, ONGC has announced a final dividend of ₹3.25 per share (i.e.@ 65%) for the financial year 2021-22. It has fixed a record date of August 19 for determining the eligible shareholders to receive the final dividend. While the ONGC shares on stock exchanges will turn ex-dividend on August 18. […]
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