New Delhi: The government has received about Rs 5,001 crore as dividend tranche from ONGC, taking the total dividend receipt from all CPSEs (Central Public Sector Enterprises) to Rs 23,797 crore in FY23. As per gudielines, CPSEs are required to pay a minimum annual dividend of 30 percent of profit after tax (PAT) or 5 percent of net worth, whichever is higher. The total dividend receipts this fiscal stood at Rs 23,796.55 crore, according to the information available on DIPAM website.
"The government has received about Rs 5,001 crore from ONGC as dividend tranche," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet.
The DIPAM, in 2020, advised CPSEs to follow a consistent dividend policy and pay higher dividends, taking into account factors like profitability, capex requirements, cash/reserve and net worth.
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