ONGC's Board OKs 180% Interim Dividend for FY 2009-10

ONGC Board of Directors has approved an interim dividend payout of 180% for the FY 2009-10. This amounts to Rs 18 per equity share, aggregating to Rs 3,850 crore, on a paid up equity capital of Rs. 2,138.87 crore comprising of 213.89 crore shares of Rs. 10 each.

The interim dividend was approved in its 199th meeting held today. ONGC has been recognized for its highest dividend payouts consistently among Indian corporate (public or private) in recent years. For the fiscal 08-09, ONGC paid an aggregate dividend of 320% (an interim 180%, and final 140%).

"Considering the financial performance of the company in the backdrop of volatile international oil prices and looking at the future commitments in terms of investment, the Board has taken a very balanced decision of paying 180% interim dividend. Our valued shareholders will certainly hail this decision," said Mr. R S Sharma, CMD, ONGC.

 

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