Friday, 13 December 2013

ONGC pays Rs 2,900 crore as dividend to GoI

Oil and Natural Gas Corporation (ONGC) has paid an amount of Rs 2,900 crore to Government of India (GoI) towards the interim dividend for 2013-14. This represents payment of interim dividend at 100% to the GoI against its shareholding in ONGC. The company handed over the cheque to the Petroleum Minister, M. Veerappa Moily. GoI holds 69.23% equity share in ONGC and the company paid dividend of Rs 5 per equity share i.e 100% of the paid-up share capital.

ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.

No comments:

Post a Comment