The state-owned Oil and Natural Gas Corporation has declared a dividend of 100 percent, and has asserted that it has enough cash reserves to overcome the extreme volatility in oil prices. On Monday, the Board of Directors announced an ‘interim dividend of Rs 5 per equity share of Rs 5 each. By virtue of its 62.78 per cent stake in ONGC, the government will get 3,949 crore in dividend and taxes.
