ONGC pays $480.5 million interim dividend

Friday, 31 December 2004, 08:00 Hrs
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NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) Thursday paid an interim dividend of 21.14 billion ($480.5 million) to the government at 200 percent (20 per share).

This is the highest-ever interim dividend paid by any company, it said in a statement.

With this, ONGC has paid a total dividend of 144.59 billion ($3.29 billion) to the government against a total capital investment of 3.43 billion, till 1980-81.

The government got 142.74 billion ($3.24 billion) through disinvestment of its 10 percent equity in the exploration major earlier this year. The government holds 74.13 percent equity in ONGC.

The government's share in the current market value of ONGC (as per market price on Dec 30, 2004) is 861.43 billion ($19.58 billion).


Source: IANS
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