IOC declares Rs 4.25/share interim dividend, govt to get Rs 2,060 cr

State-owned Indian Oil Corp (IOC) on Friday declared an interim dividend of Rs 4.25 per share, which will give the government Rs 2,060 crore.

"The Board of Directors of the company at its meeting held today (Friday) has declared an interim dividend of 42.50 per cent i.e. Rs 4.25 per equity share of face value of Rs 10 each for the financial year 2019-2020," the company said in a regulatory filing.

The government, which holds 51.50 per cent stake in IOC, will get over Rs 2,060 crore plus taxes. "The dividend will be credited to the account of the shareholders or the dividend warrant in respect thereof will be dispatched on or before March 31, 2020," it added.

The company's board fixed March 25 as the 'record date' for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend at the aforesaid meeting. Shares of IOC traded 4.50 per cent higher at Rs 91.70 on the BSE on Friday.