Economy News

The government receives a dividend of Rs 5,001 cr from the ONGC; total CPSE dividend reaches Rs 23,797 cr so far in FY23 – Mintpaisa

The government received about Rs 5,001 crore as a tranche of dividend from the ONGC, bringing the total dividends received from all CPSEs (Central Public Sector Enterprises) so far to Rs 23,797 crore.

“Government received around Rs 5,001 crore from ONGC as dividend tranche,” tweeted Department of Investment and Public Assets Management (DIPAM) Secretary Tuhin Kanta Pandey.

DIPAM in 2020 advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors such as profitability, investment requirements, cash/reserve and net value.

Under the guidelines, CPSEs are required to pay a minimum annual dividend of 30% of after-tax profit (PAT) or 5% of net worth, whichever is greater. The total dividends received so far for this financial year amounted to Rs 23,796.55 crore, according to the DIPAM website.


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