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Oil and Natural Gas Corporation Ltd., (ONGC), presented a final dividend cheque (for the year 2003-04) of Rs. 1,057 Crore to the Hon’ble Prime Minister Dr. Manmohan Singh on October 21, 2004. This is in addition to an interim dividend of Rs. 1,679 Crore paid to the Government in February this year. The total dividend paid to the Government for the year 2003-04 amounts to Rs. 2,736 Crore.

The dividend cheque represents the final payment of dividend at 100% (Rs. 10 per share), to the Government which currently owns 74.14 percent of ONGC’s equity. Earlier, before disinvestment of ONGC, the Government equity was 84.11%.

ONGC paid an aggregate dividend of Rs. 3,422 Crore to its shareholders for the year 2003-04, the highest by any Indian Company, (except ONGC’s payout of Rs. 4,278 Crore in the previous year) which is around 40% of the net profit.

The Union Minister for Petroleum & Natural Gas, Panchayati Raj,

Mani Shankar Aiyar presented a dividend cheque on behalf of

ONGC to the Prime Minister Dr. Manmohan Singh in

New Delhi on October 21, 2004.

During the last three financial years (FY 01-02, 02-03 & 03-04) ONGC has paid total dividend of nearly Rs. 10,000 crore (Rs. 9,696 Crore to be precise), out of which GoI share was Rs. 8,013 Crore

During the last three financial year, GoI realized Rs. 10,542 Crore (March 04) against 10% divestment in ONGC’s equity. This remains the highest-ever offering in a single tranche by any Indian Company in India or abroad. This equity offering created history in the capital market, with market response aggregating to over Rs. 61,900 Crore. This issue was fully subscribed in less than 15 minutes of opening on 5th March 04. As many as 320 FIIs had participated of whom 29 had put in bids for more than USD 100 million each.

ONGC is the only company on NSE to have double-digit weightage of more than 14%. ONGC with its subsidiary MRPL, holds 9.4% of the total market capitalization on BSE. Market capitalization of ONGC is nearly equal to the total market capitalizations of the No.2 & No. 3 on BSE 30 listing – Reliance and Tata. ONGC’s weightage on MSCI Emerging Market Index is of the order of 7%.

Cumulative equity investment by GoI in ONGC was Rs. 343 Crore. ONGC’s net worth of Rs. 40,002 Crore as on 31.3.04 signifies over 116 times increase in the GoI equity. This is the highest net worth among all Indian companies.

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