Pawan Hans pays 20% dividend to ONGC

India’s national helicopter company Pawan Hans Helicopters Ltd (PHHL) has paid a total dividend of Rs.4.9 crore (20%) to Oil and Natural Gas Corporation Ltd (ONGC) for the fiscal 2005-06.
Of this, a dividend of 8% for FY-06, amounting to Rs.1.96 crore, was paid earlier. Remaining 12%, amounting to Rs 2.94 crore, has been paid by R K Tyagi, CMD of PHHL to R S Sharma, CMD of ONGC, at ONGC office in New Delhi on May 24, 2007.
On the occasion, the helicopter company also paid an interim dividend of 8% (Rs 1.96 crore) for 2006-07 (FY-07) to ONGC.
Equity of 21.5% of Pawan Hans is held by ONGC, the balance 78.5% being with the government. The decision of a final dividend of 20% for FY-06 was taken by PHHL in its 21st Annual General Meeting held on December 21, 2006. The dividend pay-out history of PHHL has been very consistent, as for 2004-05 (FT-05) also, PHHL had paid a total dividend of 20% to its shareholders.
29/05/07 Times of India

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Categories: General Aviation May 2007