Multibagger PSU stock Chennai Petroleum surges to all-time high ahead of final dividend record date; has turned Rs 1 lakh into Rs 9.23 lakh in 3 years

Multibagger PSU stock Chennai Petroleum Corporation, which is a subsidiary of Indian Oil Corporation (IOC), surged to an all-time high of Rs 1,274.00 to be the top gainer on BSE on Tuesday (July 16,2024). 

The stock is making waves three days ahead of the record date of its final dividend payout.    

Chennai Petroleum that closed at Rs 1,086.55 in the previous session soared by 17.25 per cent on Tuesday to race to an all-time high.

The multibagger PSU stock was trading higher by 14.30 per cent, or Rs 155.40, at Rs 1,241.95 on Tuesday.

Chennai Petroleum Final Dividend Record Date 

The refinery announced a final dividend of Rs 55 per share in April, the record date for which is July 19, 2024.

It means shareholders who have the stock in their portfolio on or before July 19 are eligible for final dividend payout.

Chennai Petroleum share price history

The stock has soared by 20.45 per cent in the five days, 24.68 per cent in the one month, 46.49 per cent in the six months, and 191.39 per cent in the one-year period. 

Benchmark Nifty 50, meanwhile, has jumped by 4.48 per cent in the one month, 11.72 per cent in the six months and 24.87 per cent in the one-year period.