Oil India Ltd proves to be jewel in nation’s PSU crown

Shareholders of Oil India Ltd (OIL), the country’s second largest national exploration and production (E&P) company, had declared a final dividend of 5 per cent for the financial year 2013-14 at OIL’s 55th AGM. This is in addition to an interim dividend of 210 per cent for 2013-14.

The final dividend cheque to the Union Government for 2013-14 was presented to Minister of State for Petroleum & Natural Gas (Independent Charge) Dharmendra Pradhan by OIL CMD S K Srivastava in the presence of oil & gas secretary Saurabh Chandra and additional secretary and financial advisor to the oil & gas ministry Dr S C Khuntia.

For the financial year 2013-14, the company has paid a total dividend of Rs 879.48 crore to the Centre out of which Rs 859.15 crore was paid as interim dividend and Rs 20.33 crore as final dividend.