ONGC declares second interim dividend for FY23. Know the details of important dates

In percentage terms, the second interim Dividend is 80%, ie 4 per equity share of face value 5 each.

According to regulatory filing, ONGC said, “The total payment on this account will be 5,032 crores.”

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

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

Shareholders whose names appear in the register of members of the company or in the records of the depositories as on February 24, will be eligible for the second interim dividend.

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

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

ONGC shares closed on BSE Rs 148.45 is broadly flat as compared to Monday’s print 148.15 each.

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

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

In FY22 alone, the company paid out 210% total dividend 10.5 per equity share to its shareholders.

During the third quarter of FY23, ONGC posted a standalone net profit of Rs. 11,044.73 crores up 26% from the profit of 8,763.72 crore in the same period a year ago. Standalone revenue from operations 38,583.29 crore, up 35.51% from Q3FY23 28,472.91 crore in the same quarter last year.

On a consolidated basis, the company’s net profit attributable to owners was 11,489 Crore up 5.1% YoY, and registered a 16.2% YoY growth in Gross Revenue 1,69,213 crores.