Representational photo
| Photo Credit: AMIT DAVE
The government has received about ₹5,001 crore as dividend tranche from ONGC, taking the total dividend receipt from all CPSEs (central public sector enterprises) so far this fiscal to ₹23,797 crore. “The government has received about ₹5,001 crore from ONGC as dividend tranche,” the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.
The DIPAM, in 2020, advised CPSEs to follow a consistent dividend policy and strive to pay higher dividends taking into account factors like profitability, capex requirements, cash/reserve and net worth.
As per guidelines, CPSEs are required to pay a minimum annual dividend of 30% of profit after tax (PAT), or 5% of net worth, whichever is higher.
The total dividend receipts so far this fiscal stood at ₹23,796.55 crore, as per DIPAM website.
