Shri Ram Naik,
Minster of Petroleum & Natural Gas, received here today
interim dividend cheques from the CMDs of Oil Companies amounting
to Rs. 2687.42 crore for the year 2002-2003. Speaking on the
occasion Shri Ram Naik observed "This is the first occasion
when six Oil PSUs paid interim dividend together on a single
day". Significantly the total interim dividend received
by the Government from 6 Oil PSUs for the current year is 82
per cent of the total dividend of Rs. 3206 crore against its
equity in the previous fiscal (2001-02).
ONGC took the lead
with a pay out of Rs. 2038.88 crore which represents 170 per
cent of the Government’s equity. IOC followed with Rs. 319.36
crore which is 50 per cent of the equity of Government in the
Company. The third highest payment was made by GAIL with an
interim dividend of Rs. 170.85 crore at 30 per cent of the equity.
These companies
are followed by Oil India Limited (OIL) with Rs. 84 crore (40
per cent), Bharat Petroleum Corporation Limited (BPCL) with
Rs. 39.72 crore (20 per cent) and Hindustan Petroleum Corporation
Limited (HPCL) with Rs. 34.61 crore (20 per cent) of interim
dividend for the current fiscal. Speaking on the occasion Shri
Ram Naik complemented Oil PSUs for their maintaining their excellent
performance during the first year of APM dismantling.
