State-owned Indian Oil Corp (IOC) on Tuesday declared a second interim dividend of Rs 1,412 crore for the current financial year and ONGC agreed to do so next week to help the Government meet its tax revenue target.
In a stock exchange filing, IOC, the nation’s biggest oil firm, said its board at a meeting on Tuesday approved payment of Rs 1.50 per share of 15 per cent in second interim dividend for 2018-19 to shareholders.
“The dividend will be credited to the account of the shareholders or the dividend warrant in respect thereof will be dispatched on or before April 10, 2019,” it said.
The Government owns 53.88 per cent stake in IOC and stands to get about Rs 761 crore, excluding dividend distribution tax.
