Oil India declares 180% interim dividend

Oil India declares 180% interim dividend

New Delhi: State-owned Oil India Ltd (OIL) on Wednesday said it has paid an interim dividend of 180% (Rs18 per share) for the 2009-10 financial year.

Last year the company paid a total dividend of 305% for 2008-09, OIL said in a press statement here.

OIL chairman and managing director NM Borah handed over a cheque of Rs339.48 crore to the petroleum secretary S Sundareshan towards government’s share of interim dividend.

Government of India holds 78.43% stake in OIL.

In 2008-09, OIL paid a total dividend of Rs640.50 crore to the government.

The company is currently producing around 3.60 million tonnes a year of crude oil and 7 million standard cubic meters per day of gas from fields it operates.

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