ONGC declares 2nd interim dividend worth ₹5,032 crore. Know details of important dates to earn this benefit

In percentage terms, the second interim dividend is 80%, i.e. ₹ 4 on each equity share having a face value of ₹5 each.

As per the regulatory filing, ONGC said, the “total payout on this account will be ₹ 5,032 crore.”

Further, ONGC has fixed February 24th as the record date for determining eligible shareholders for dividend distribution. The ex-dividend date will be the same as the record date due to the settlement type ‘T+1’ option which the stock exchanges follow with effect from January 27, 2023.

Simply put, the ‘T+1’ settlement type means all trades in the equity segment will be settled within 24 hours.

Shareholders whose names will appear on the Register of Members of the company or in the records of the Depositories by end of February 24, will be eligible for a second interim dividend.

ONGC will pay this dividend to the eligible shareholders on or before March 16, 2023.

This is in addition to the first interim dividend of ₹6.75 per share(135%) declared earlier in November last year.

On BSE, ONGC shares closed at ₹148.45 apiece broadly flat compared to Monday’s print of ₹148.15 apiece.

The company’s market cap is over ₹1,86,754 crore.

At the current market price, ONGC’s dividend yield is at 7.07%.

In FY22 alone, the company paid a total dividend of 210% aggregating to ₹10.5 per equity share to its shareholders.

During Q3 of FY23, ONGC earned a standalone net profit of ₹11,044.73 crore up by 26% from a profit of ₹8,763.72 crore a year ago same period. Standalone revenue from operations came in at ₹38,583.29 crore in Q3FY23, up by 35.51% from ₹28,472.91 crore in the same quarter last year.

On a consolidated basis, the company’s net profit attributable to owners came in at ₹11,489 crore up by 5.1% YoY, and gross revenue registered a growth of 16.2% YoY to ₹1,69,213 crore.