Thursday, June 18, 2020
Castrol India Announces Second Interim Dividend for FY 2019; Recalls Final Dividend for FY 2019
The Board of Directors of Castrol India Limited, at a meeting held today, declared a second interim dividend of INR 3/- per equity share for the financial year ended 31 December 2019. Simultaneously, the Board recalled the earlier recommended final dividend of INR 3/- per equity share for the same period (2018: final dividend INR 2.75/- per equity share).
The delay of the 42nd Annual General Meeting of the Company from April to July due to the national lockdown on account of the Covid-19 pandemic has impacted many shareholders, small and institutional.
The Board took this decision to pay an interim dividend during these unprecedented times to help release payment earlier to the shareholders.
“Castrol India has always valued the enduring relationship it has with its investors. These are extraordinary times which require organizations to take extraordinary measures in order to support various stakeholders,” said Mr. R Gopalakrishnan, Chairman of Board of Directors after the meeting.
This second interim dividend, is in addition to the previously declared interim dividend of INR 2.50/- per equity share (2018: interim dividend INR 2.25/- per equity share) for the financial year 2019.