Thenewsmanofindia.com
In its 286th Board meeting held on October 27, 2016, ONGC of which D K Sarraf is Chairman presented the Quarterly results for the second quarter ended on September 30, 2016. The company notifies 15 discoveries so far in FY’17 while decares interim dividend of 90% with the board recommending bonus issue in the ratio of 1:2. ONGC Board has approved an interim dividend of 90%, i.e. 4.50 on each equity share of ? 5. The total payout on this account will be 3,850 crore. Government of India will receive ? 2,654 crore on its 68.93% shareholding. In addition, dividend distribution tax of 784 crore would also be paid to the Government. The Record date for distribution of dividend has been fixed for 5 th November, 2016 which has been intimated to the stock exchanges. The payment of interim dividend to the shareholders shall start from November 7, 2016. ONGC Board has recommended Bonus issue in the ratio of 1:2 (i.e. one bonus share for every two existing shares held) subject to approval of shareholders.