Oil and Natural Gas Corporation(ONGC) Ltd on Thursday rewarded its
shareholders with a 1:2 bonus.
It also declared an interim dividend of
90 per cent for 2016-17, which would result in a dividend of ₹4.50 on
each equity share of ₹5.
The total payout on this account will be ₹3,850
crore, said DK Sarraf, Chairman and Managing Director, ONGC.
ONGC will also fork out ₹784 crore to the Central government as dividend
distribution tax.
The Centre, which holds 68.93 % stake in ONGC,
will receive an interim dividend of ₹2,654 crore, Sarraf told
With the latest bonus announcement, a shareholder would get one bonus
share of ₹5 each for every two shares held in the company.
This is
subject to approval of shareholders.
The last time ONGC declared a bonus
was in 2010-11 (1:1).
Prior to that, a bonus of 1:2 was declared in
2006-07. In 1995-96, ONGC had issued a bonus of 3.08:1.
ONGC had, some years ago, split its share of the face value of ₹10 each,
fully paid into two shares, each of face value of ₹5 each, after which
the bonus issue of 2010-11 was carried out.
If approved by shareholders, each equity share of ₹10 each held by
shareholders prior to 1995-96, would now amount to 36.72 equity shares
of ₹5 each.
ONGC on Thursday Oct 27,2016 reported a net profit of ₹4,975 crore
for the second quarter ended September 2016.
This was 6.3 %
higher than the net profit of ₹4,681 crore recorded in the same quarter
last year.
Gross revenue for the quarter under review declined to ₹18,395 crore (₹20,512 crore).
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