NEW DELHI: Oil and Natural Gas Corporation (ONGC), India’s largest oil and gas explorer and producer company has paid Rs 5,001 crore as dividend to the government, said Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Monday.
With this, the total dividend received by the government from Central Public Sector Enterprises (CPSEs) in current fiscal stands at Rs 23,797 crore. As per guidelines, CPSEs need to pay minimum annual dividend of 30% of profit after tax (PAT) or 5% of net worth, whichever is higher. ONGC had earlier paid Rs 2,408 crore in divdend to the government on October 6, 2022.
So far, oil companies including BPCL paid Rs 690, GAIL Rs 226 crore and IOL Rs 307 crore as dividend. The government has received Rs 1,223 crore from Coal India and Rs 1,487 crore from NTPC this fiscal. In 2020, DIPAM advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors like profitability, capex requirements, cash and net worth.