NEW DELHI: The government has received about Rs 5,001 crore as a dividend tranche from ONGC, taking the total dividend receipt from all CPSEs (Central Public Sector Enterprises) so far this fiscal to Rs 23,797 crore.
"The government has received about Rs 5,001 crore from ONGC as dividend tranche," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.
The Central government received a huge dividend tranche of Rs 5,001 crore from the Maharatna company ONGC.— IANS (@ians_india) November 28, 2022
This was informed by Secretary in the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey. pic.twitter.com/00Sj9aYlBq
The DIPAM, in 2020, advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors like profitability, CAPEX requirements, cash/reserve and net worth.
As per guidelines, CPSEs are required to pay a minimum annual dividend of 30 per cent of profit after tax (PAT) or 5 per cent of net worth, whichever is higher.
The total dividend receipts so far this fiscal stood at Rs 23,796.55 crore, as per the DIPAM website.