Key Points
NEW DELHI: Oil and Natural Gas Corporation (ONGC) has paid a dividend of 7,224 crore to the Centre for the fiscal 2023-24, leading the pack of oil and gas companies, which form the biggest block of dividend payers to the Central government...
ONGC's dividend contribution to the state was almost double the 3,636 crore dividend by Indian Oil Corporation (IOC), nearly three times Bharat Petroleum Corporation's 2,413 crore, close to four times GAIL's 1,863 crore and about ten times Oil India's 737 crore...
These are interim dividends and a final instalment usually comes after the companies declare annual earnings...
Natural gas marketers also gained from increased consumption of fuel.. "ONGC maintains a healthy mix of dividend release and internal resource generation to get a good balance of present and future," ONGC chairman Arun Singh told ET, referring to the company's ability to meet current shareholder expectations and fund future capital expenditure, which will rise on account of the transition..
Power Grid Corporation has paid a dividend of 7,906 crore, including 4,059 crore to the government, while Hindustan Aeronautics Ltd has paid a dividend of 1,471 crore, with 1,054 crore going to the state..
