Gulf Oil Corporation has surged 7% to Rs 113 on the NSE after its board has decided to pay an interim dividend of Rs 2.50 per share, equivalent to 125%, for the year 2013-14.
The interim dividend of Rs 2.50 per share on Rs 2 paid up capital is consisting of Rs 2.20 per share interim dividend plus special interim dividend of Rs 0.30 in view of the demerger in progress, for the year 2013-14, Gulf Oil Corporation said in a press release.
The company has fixed April 14, 2014 as the “Record Date” for the purpose of payment of interim dividend, it added.
Gulf Oil Corporation had announced demerge of the Lubricants Division into Gulf Oil Lubricants India, a wholly owned subsidiary.
The stock opened at Rs 106 and touched a 52-week high of Rs 115 on the NSE. The trading volumes on the counter more than doubled with a combined 806,000 shares changing hands on the BSE and NSE till 0950 hours.
The interim dividend of Rs 2.50 per share on Rs 2 paid up capital is consisting of Rs 2.20 per share interim dividend plus special interim dividend of Rs 0.30 in view of the demerger in progress, for the year 2013-14, Gulf Oil Corporation said in a press release.
The company has fixed April 14, 2014 as the “Record Date” for the purpose of payment of interim dividend, it added.
Gulf Oil Corporation had announced demerge of the Lubricants Division into Gulf Oil Lubricants India, a wholly owned subsidiary.
The stock opened at Rs 106 and touched a 52-week high of Rs 115 on the NSE. The trading volumes on the counter more than doubled with a combined 806,000 shares changing hands on the BSE and NSE till 0950 hours.