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Home / Business / ONGC pays Rs 5,001cr to Centre as dividend tranche

ONGC pays Rs 5,001cr to Centre as dividend tranche

The total receipts so far this fiscal stood at Rs 23,796.55 crore
Representational file image
Representational file image

PTI   |   New Delhi   |   Published 29.11.22, 03:54 AM

The government has received about Rs 5,001 crore as a dividend tranche from ONGC, taking the total dividend receipt from all CPSEs (Central Public Sector Enterprises) so far this fiscal to Rs 23,797 crore.

“The government has received about Rs 5,001 crore from ONGC as dividend tranche,” Tuhin Kanta Pandey, secretary in the Department of Investment and Public Asset Management (Dipam), tweeted.

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Dipam, in 2020, advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors such as profitability, capex requirements, cash/reserve and net guidelines.

According to the guidelines, CPSEs are required to pay a minimum annual dividend of 30 per cent of profit after tax (PAT) or 5 per cent of net worth, whichever is higher.

The total dividend receipts so far this fiscal stood at Rs 23,796.55 crore, according to the DIPAM website.



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