News: The record date for the ONGC Dividend 2024 has been revised to February 17. This adjustment corresponds to the rescheduled Board Meeting scheduled for February 10, 2024. The Trading Window is scheduled to resume on February 12, 2024.
Revised Board Meeting Date
Oil and Natural Gas Corporation Limited (ONGC) has shifted its Board Meeting from February 13 to February 10, 2024. The agenda for this meeting includes the discussion of the company’s Un-Audited Financial Results for the Quarter and Nine Months ending on December 31, 2023.
Revised Record Date for Dividend Eligibility
Moreover, the Record Date for assessing eligibility for the potential 2nd Interim Dividend has been updated to February 17, 2024, in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is crucial to highlight that the Trading Window for insiders will stay closed until February 12, 2024.
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Interim Dividend in the Financial Year 2023-24
During the financial year 2023-24, ONGC announced an interim dividend of Rs 5.75 per share, representing 115% of the share’s value. The initial record date for dividend eligibility was scheduled for November 21, 2023. Shareholders entitled to the dividend received their payments on or before December 10, 2023.
Current Share Price and Market Performance
Presently, the prevailing share price of ONGC stands at 263.15 INR, reflecting a 2.29% increase for the day. The market performance is notable, commencing at 260.05 INR and reaching a high of 264.60 INR. Furthermore, ONGC demonstrates a noteworthy dividend yield of 3.89%.
About ONGC
ONGC, or the Oil and Natural Gas Corporation Limited, holds a prominent position as a central public sector undertaking in India. Functioning under the Ministry of Petroleum and Natural Gas, it is wholly owned by the Government of India. Established on August 14, 1956, ONGC has achieved Maharatna status. The company’s headquarters are situated in New Delhi.
ONGC stands as the largest government-owned oil and gas explorer and producer in India, playing a vital role in the nation’s crude oil and natural gas output. Employing innovative approaches such as Improved Oil Recovery (IOR) and Enhanced Oil Recovery (EOR), the company sustains production in matured fields. ONGC has consistently exhibited a strong Reserve Replacement Ratio. In 2018, it significantly bolstered its position in the energy industry by acquiring a majority stake in Hindustan Petroleum Corporation Limited (HPCL).
In summary, ONGC has adjusted the Record Date for dividend eligibility to February 17, 2024, in coordination with the rescheduled Board Meeting and the reopening of the Trading Window. As a key player in India’s oil and gas sector, ONGC consistently demonstrates robust market performance and plays a substantial role in the nation’s energy production.
FAQs
Q: When has the Record Date for ONGC Dividend 2024 been updated?
A: The Record Date for ONGC Dividend 2024 has been revised to February 17, 2024.
Q: What is the new date for the ONGC Board Meeting?
A: The ONGC Board Meeting has been rescheduled and is now scheduled for February 10, 2024.
Q: What is the present value of ONGC shares?
A: ONGC shares are currently priced at 263.15 INR.
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