Chennai Petroleum Corporation Limited has informed the Exchange regarding 'NOTICE OF 59th ANNUAL GENERAL MEETING (AGM) OF THE COMPANY'.
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Chennai Petroleum Corporation Limited (CPCL) has issued the notice for its 59th AGM to be held on Monday, 25th August 2025 at 10:00 AM IST through Video Conference/Other Audio-Visual Means. Key items on the agenda include adoption of audited financial statements for FY 2024-25, declaration of an equity dividend of ₹5 per share (50% on paid-up capital) and a preference dividend of ₹0.665 per share (₹33.25 crore to IOCL). The notice also seeks shareholder approval for several director appointments, including Mr. Arvinder Singh Sahney as Non-Executive Chairman, Mr. H Shankar as Managing Director, and multiple nominee/independent directors. Additionally, shareholders will consider ratification of the cost auditor's remuneration (₹2.75 lakh for FY26), appointment of a secretarial auditor for five years (FY26–FY30), and approval for material related party transactions with joint venture Cauvery Basin Refinery and Petrochemicals Limited for FY 2026-27. The record date for the equity dividend is 1st August 2025, and the remote e-voting window runs from 21st to 24th August 2025.
The ₹5 per share equity dividend offers a modest but tangible return to shareholders, with the record date already set. The proposed board changes, including a new Managing Director and several government-nominee directors, reflect CPCL's status as a PSU under IOCL but are largely procedural. Approval of related party transactions with its JV is a routine operational requirement, and overall this is a standard AGM notice with no material negative signals for the stock.