New Delhi, Oct 04: Oil and Natural Gas Corporation on Friday paid a dividend of Rs 1559 crore for the year 2002-03 to the government, taking the total dividend payout in the fiscal to Rs 3598 crore. ONGC chairman and managing director Subir Raha handed over a cheque of Rs 1559 crore to prime minister Atal Bihari Vajapyee. Petroleum minister Ram Naik, MoS for Petroleum & Natural Gas Sumitra Mahajan and company directors were also present on the occasion, an ONGC press release said here.
ONGC had earlier paid interim dividend of Rs 2039 crore on February 5, 2003. The total dividend paid by ONGC to the government for 2002-03 is Rs 3598 crore, up 114 percent from the dividend of Rs 1679 crore in the previous year.
Since corporatisation in 1994, ONGC had paid total Rs 8914 crore as dividend to the government against capital investment (not adjusted to inflation) of Rs 343 crore. Bureau Report