ONGC celebrates strong financial growth
State owned Oil and Natural Gas Corporation Limited (ONGC) recently presented interim dividend of Rs. 3964.35 crore to the government of India (GOI). At the presentation ceremony held in New Delhi on January 10, 2011, Mr. Sudhir Vasudeva, CMD, ONGC presented a cheque of the same amount to Minister of Petroleum and Natural Gas, Mr. Jaipal Reddy. The amount enriches shareholders as part of ONGC’S interim dividend of 5347.20 crore that ONGC had announced post its 226th board meeting held on January 4, 2012. This dividend payout comes on the back of strong financial performance of the company in the first half of the financial year 2011-12. The payout works out to Rs 6.25/- per equity share of 5 each (on 8,555,490,120 equity shares). The year has been a remarkable period for ONGC during which the exploration and production (E&P) major made a total of 15 notified discoveries of hydrocarbon blocks reinforcing its stature as the flagship oil and gas company of the country.