A key player in the lubricant sector, Castrol India is synonymous with a range of products from compressors to cutting fluid. Recently, the lubricant giant announced a substantial dividend payout for the company’s shareholders after its stock surged.
Castrol India confirmed a dividend of 9.50 rupees per share and included a special 4.50 rupees dividend to produce a 190 per cent payment on each stock carrying a value of 5 rupees.
The decision was proposed at a recent exchange filing in early February, when the board of Castrol India announced the final dividend for the 2024 fiscal year ending Tuesday, December 31. According to the filing, the board’s decision is subject to shareholder approval at the 47th edition of Castrol India’s Annual General Meeting.
If the decision meets with approval, from Tuesday, March 18 onwards, Castrol India shares will trade at a price minus the dividend value, and eligible shareholders will be credited with the approved dividend either on or before Wednesday, April 23.
Historically as a company, Castrol India has been consistently generous when rewarding its investors, supplying significant dividend payouts. Research of data online shows that in 2024, the lubricant major issued dividend payouts twice at 8 rupees per share. In 2022 and 2023, the company paid out dividends of 6 rupees and 6.50 rupees respectively.
Shares in Castrol India have recently surged by 22.68 per cent, while in 2024, they had a recorded increase of 8.11 per cent increase. At present, they have reached a 52-week high of 284.40 rupees.
