In the financial year 2024-25, the government has received a dividend of Rs 10,604 crore
The Department of Investment and Public Asset Management (DIPAM) on Thursday said that the central government has received about Rs 5,091 crore as dividend from state-owned oil company Indian Oil Corporation. DIPAM Secretary Tuhin Kant Pandey wrote on social media platform X, “The government has received about Rs 5,091 crore as dividend installment from Indian Oil Corporation Limited (IOC).”
In the financial year 2024-25, the government has received a dividend of Rs 10,604 crore
So far in the current financial year 2024-25 (5 months), the Central Government has received Rs 10,604.74 crore as dividend from Central Public Sector Undertakings. This includes Rs 40 crore from Electronics Corporation of India Limited (ECIL), Rs 554 crore from Power Finance Corp and Rs 3,443 crore as special dividend from Telecommunications Consultants India Limited (TCIL).
Dividend target of Rs 56,260 crore for the current financial year
The government has set a target of getting Rs 56,260 crore as dividend from public sector companies in the budget of the current financial year. This is Rs 6260 crore more than the dividend of Rs 50,000 crore received in the financial year 2023-24.
LIC had given a dividend of Rs 3662.17 crore to the government
The country’s largest insurance company, Life Insurance Corporation (LIC), has paid a dividend of Rs 3,662.17 crore to the Central Government for the financial year 2023-24. This amount is separate from the interim dividend of Rs 2,441.45 crore paid earlier by LIC in March 2024.
IOC shares saw a good rise on Thursday
Let us tell you that on Thursday, Indian Oil shares closed at Rs 176.75 with a gain of 1.73 percent (Rs 3.00). However, the current price of the PSU stock is much lower than its 52-week high. The 52 Week High of the company’s shares is Rs 196.80. According to BSE, the current market cap of Indian Oil is Rs 2,49,592.89 crore.
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