ONGC declares Rs1,283.32 crore payout in second interim dividend

State-run explorer Oil and Natural Gas Corporation Ltd (ONGC) will pay a second 30-per cent interim dividend, involving a total outgo of Rs1,283.32 crore, including Rs888.38 crore payment to the government, its main stakeholder.

The board of directors of ONGC at its meeting on Thursday also approved plans for early development of C-26 cluster (consisting of C-23, C-26,&B-12-1) fields of phase III of approved development projects scheme of C-series.

ONGC will pay a second interim dividend of Rs1.5 per Rs5 equity shares numbering 8,555,490,120 for the financial year 2011-12, the company said in a filing with the Bombay Stock Exchange (BSE). The total payout on this account will be Rs1,283.32 crore, out of which the government of India will receive Rs888.38 crore, it added.

ONGC has fixed 20 March as the record date for payment of interim dividend.

Earlier, on 4 January 2012, the ONGC board had approved an interim dividend of Rs6.25 per equity share for 2011-12, involving a total payout of Rs5,347.20 crore, with the government receiving Rs3,964.36 crore.

ONGC has so far approved interim dividend payments totalling Rs6,630.52 crore and paid dividend tax of Rs1,075.52 crore on that score.
 
ONGC also announced plans for early development and monetisation of C-23, C-26 & B-12-1 fields in the C-26 cluster off the Daman coast.