Oil and Natural Gas Corporation Ltd. announced an interim dividend for its shareholders while declaring their second-quarter earnings. At current market price of Rs 142.40, that translates into a dividend yield of 4.74%.
If you buy before Nov. 21, which is the ex-dividend date, you will be eligible for dividend. If you purchase the shares on ex-dividend date, you will not be eligible for the dividend as the shares will not be credited to your account on record date due to T+2 settlement.
The company has set Nov. 22 as the 'record date' for the interim dividend of 135% at Rs 6.75 per share, carrying a face value of Rs 5 apiece. All eligible shareholders will be paid on or before Dec.13.
The total payout for ONGC will be Rs 8,492 crore, of which the majority will go to the government as it holds a 60.41% stake in oil & gas explorer.
ONGC has declared an equity dividend worth Rs 10.50 per share in the past 12 months.
Shares of the company were trading 0.11% lower as of 9:30 a.m., while the benchmark Nifty 50 eased 0.23%. The stock is trading near a four-month high, with 11.50% gains in the last one month.
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