Business   

ONGC declares 180 p.c. interim

Special Correspondent

NEW DELHI: The Oil and Natural Gas Corporation Ltd. (ONGC) on Saturday declared the highest-ever interim dividend of 180 per cent for the current fiscal on its post-bonus expanded equity capital.

Earlier during the year, the corporation had issued bonus shares in the ratio of 1:2, thus increasing its capital from Rs. 1,426 crore to Rs. 2,139 crore.

The interim dividend, according to an ONGC statement here, is equivalent to 270 per cent in pre-bonus terms which works out to an eight per cent increase over the interim declared in 2005-06. In absolute terms, the current interim works out to a pay-out of Rs. 3,850 crore in which the Centre's share amounts to Rs. 2,854 crore for its 74.14 per cent equity holding.

Dividend tax

ONGC will also be paying a dividend tax on the interim which works out to Rs. 540 crore.

The dividend is to be paid immediately after the record date of December 28 without waiting for the mandatory 30-day period, the statement said.

The corporation's net profit at Rs. 8,293 crore for the first six months of the current fiscal is 11 per cent higher as compared to the net of Rs. 7,457 crore for the same period in the previous fiscal.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

BSE to start unified CDM system from Jan. 2
Tea producing nations form forum at Kenya meet
ONGC declares 180 p.c. interim
PNB ties up with Everest Bank of Nepal
Watch dials unit plans investment in Switzerland
Forex reserves up $75 m
Reliance bonanza for mobile customers
HDFC Bank opens new branches
`Insurers have to add value to their products'
Plans afoot to boost traditional industries
Banks in Kozhikode district register 91 per cent CD ratio
Seematti awarded
Bullion rates

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu