Oil India to declare interim dividend

Will give away 30% of its profit after tax in dividend

State-run Oil India would shortly declare interim dividend for the year 2012-13. The company would give away 30% of its profit after tax in dividend.

The company had declared a dividend of Rs 25 per share for the year 2011-12. For the year 2010-11 it declared an interim dividend of Rs 18 per share.

The government has decided to sell its 10% stake in oil explorer and producer Oil India, to raise Rs 2,500 crore.

Another state-run company, the Oil & Natural Gas Corporation's board declared an interim dividend of Rs 5 per for the Financial Year 2012-13.