PSU heads meet FM to discuss dividend payouts, capex plans

Also read: EGoM to examine alternatives to IOC divestment

ONGC in fact also said that the dividend payout this year is likely to be to the tune of about 195 percent which would be inline with last years dividend payout of about 190 percent.

Gas Authority of India (GAIL) said that the dividend payout this year is likely to be about Rs 700 crore.

However, most of this is inline with last year. Other than Coal India no other company which is looking at giving a special dividend which will contribute to meeting the governments’ fiscal deficit target.

It remains to be seen how the government will finally manage to meet the Rs 54,000 crore disinvestment figure.

On the capex front Sudhir Vasudeva, CMD, ONGC said: “For the nine months we have achieved 99 percent of our capex targets and we are very much on track to achieve our annual capex plans.

Answering a query if they would announce special dividend, he said we will maintain whatever we had paid last year. Last year we had paid 100 percent in the first interim and another 80 percent we had paid in the second interim. We will try and maintain that but I cannot just commit anything here because we will have to discuss this in the board, said Vasudeva.

S Narsing Rao, Chairman, Coal India also said planned capital expenditure for the company was on track. “Our target is Rs 5000 crore, we will be spending Rs 5000 crore before March 31,” he added.

He declined to comment on issue of special dividend and said the dividend issue would be decided by the board.