Oil India declares 260% dividend for 2006-07

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New Delhi, Oct 24 (UNI) Oil India Ltd (OIL), a PSU under the Ministry of Petroleum and Natural Gas, today handed over a cheque for Rs 157.50 crore to the Government as final dividend of 75 per cent for 2006-07.

The cheque was handed over to Ministry of Petroleum and Natural Gas Secretary M S Srinivasan by OIL Chairman and Managing Director M R Pasrija, said an official statement.

The company had earlier paid first interim dividend of 110 per cent amounting to Rs 231 crore and second interim dividend of 75 per cent (Rs 157.50 crore) during the year.

Thus, the total dividend paid to the Government for 2006-07 amounts to Rs 546 crore, being 260 per cent of the paid-up capital of Rs 210 crore held by the Government.

The company recorded total income of Rs 6,007.78 crore and net profit of Rs 1,639.99 crore for 2006-07.

UNI

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