ONGC declares 180% interim dividend

New Delhi, Dec 23: State-owned Oil and Natural Gas Corporation Ltd (ONGC) has declared 180 per cent interim dividend amounting to Rs 3,850 crore for the financial year 2007-08.

''In absolute terms, this interim dividend works out to a pay-out of Rs 3,850 crore on the post-bonus paid-up capital of Rs 2,139 crore, including Governments share (74.14 per cent) of Rs 2,854 Crore,'' company said in a statement. In addition, country's biggest oil producer ONGC will be paying a dividend tax, which works out to be Rs 654 crore.

The net profit of the Corporation for the half-year FY 2007-08 stands at Rs 9,708 crore, up 17 per cent from Rs 8,293 crore for the corresponding period previous year.

In FY 2006-07, ONGC had declared an interim dividend of 180 per cent and an aggregate dividend of 310 per cent amounting to Rs 6631 Crore.

UNI