ONGC Board approves Special Interim Dividend, Recommends for Split of Shares and Issuance of Bonus Shares
|(i)||Special Interim Dividend for the financial year 2010-11|
|(ii)||Recommendation for Split of Shares and|
|(iii)||Recommendation for Issuance of Bonus Shares|
Pursuant to the decision of the Board of Directors in their meeting held on 16th December, 2010, ONGC has informed the Stock Exchanges viz. Bombay Stock Exchange and National Stock Exchange, that the Board has:
|(i)||Approved a Special Interim dividend of 32 (Rupees thirty two) per share of 10/- each fully paid up for the Financial Year 2010-11. The Record Date for the same has already been fixed on 21st December, 2010 and payment of the Special Interim Dividend shall start from Wednesday, 22nd December, 2010 onwards to the shareholders. The intimation of Record dated has already been intimated to the Stock Exchanges on December 1, 2010.|
|(ii)||Recommended for approval of the shareholders for sub division of each Equity share of 10/- each fully paid up into two equity shares of 5/- each fully paid up.|
|(iii)||Recommended for approval of the shareholders for issuance of Bonus shares in the proportion of one new equity bonus share of 5/- each for every one existing equity share of 5/- each fully paid up by capitalisation of reserves.|
|(iv)||Approved for seeking the consent of the shareholders to the proposal at (ii) and (iii) above through Postal Ballot in terms of Section 192A of the Companies Act, 1956 and the rules framed thereunder.|
Necessary action for seeking the consent of the shareholders through postal ballot is being taken.
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,