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PSU oil company Oil India Ltd (OIL) sprang a surprise on Thursday by announcing that its board of directors will meet on February 11 to consider the issue of bonus shares.
But as the announcement was made after the close of trading hours, the OIL India shares did not witness any significant price increase.
In a communication to the stock exchanges, which was posted on the BSE Web site at 4.55 pm, OIL said that its board of directors will on Feb 11 besides considering the unaudited third quarter results would consider declaration of special interim dividend for the year 2011-12 and issue of bonus shares.
In fact, even the dividend announcement was a surprise because it was only on December 21, 2011, the company decided to pay a hefty interim dividend of 250 per cent (Rs 25 a share of Rs 10 face value). Now the board will decide on payment of special interim dividend.
In the BSE, OIL shares closed at Rs 1218.35, up by Rs 22.15, with about 11,870 shares being traded.
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