INDIAN OIL CORPORATION LTD. - Board recommends Bonus Issue & Final Dividend

Indian Oil Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 17, 2022, inter alia, has approved the following:<BR><BR>1. The Board has recommended issue of Bonus Shares in the ratio of 1:2 i.e. One new bonus equity share of Rs. 10/- each for every Two existing equity shares of Rs . 10/- each fully paid up subject to the approval of shareholders through postal ballot. <BR><BR>2. The Board has recommended a final dividend of Rs. 3.60 per equity share having face value of Rs. 10/- each (pre-bonus), which translates into final dividend of Rs . 2.40 per equity share having face value of Rs. 10/- each (post-bonus) for financial year 2021-22, subject to the approval of the shareholders of the Company. The final dividend would be paid within 30 days from the date of declaration at the AGM. The final dividend is in addition to the Interim Dividend(s) of Rs. 9.00 per share (pre-bonus) paid for the financial year 2021-22.