Gulf Oil Corporation decided to pay an interim dividend of Rs 2.50 a share equivalent to 125% for the year 2013-14.

The stock had underperformed the market over the past one month till Mar. 25, 2014, falling 3.30% compared with the Sensex's 5.77% rise. It outperformed the market in past one quarter, gaining 8.52% as against 4.86% rise in the Sensex.

Shares of the company gained Rs 0.7, or 0.66%, to settle at Rs 106.30. The total volume of shares traded was 293,357 at the BSE (Wednesday).