ONGC to pay 100 percent dividend, annouces 3 discoveries

Sarkaritel
By Sarkaritel December 14, 2014 18:42

ONGC to pay 100 percent dividend, annouces 3 discoveries


New Delhi, Dec 13 Oil and gas major ONGC Saturday approved an interim dividend of 100 percent after its board meeting.

According to an Oil and Natural Gas (ONGC) statement, it will pay Rs.five per equity share and the total payout for this will be Rs.4,277.75 crore out of which the government will receive Rs.2,948.08 crore on its shareholding.

In addition, dividend distribution tax of Rs.855.55 crore would also be paid.

Further, ONGC said that its board has notified three discoveries made recently including one in deep water Krishna Godavari basin, one in Mumbai offshore basin off the west coast and one in Cauvery basin.

“In KG basin offshore, ONGC has made a significant gas discovery from its nomination deep water block,” the oil and gas explorer said in the statement.

In Mumbai offshore, ONGC said that it has made a new pool discovery, while in Cauvery basin, in the southern state of Tamil Nadu, it has made a significant gas discovery.

Sarkaritel
By Sarkaritel December 14, 2014 18:42