ONGC cel­e­brates strong fi­nan­cial growth

Power Watch India - - DISPATCHES -

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.

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