Swipe through the latest business and wealth clues with our android app

Facing tax revenue shortfall, Govt pushes IOC, ONGC to pay 2nd interim dividend

Struggling with a shortfall in tax revenues, the government has asked cash-rich PSUs like IOCL and ONGC to pay a second interim dividend for the current fiscal. While IOC has called a board meeting on March 19 to consider paying a second interim dividend, ONGC has declined the proposal citing lack of surplus cash. As per regulations, a company cannot declare a second dividend within a month of the previous payout. Companies like ONGC would need to seek an approval from SEBI to make such a payment. ONGC had announced an interim dividend of Rs 5.25/ share on February 14. 

Read More at The Financial Express News date : 15 Mar 2019, Friday

©2019 TheNewsClues