Page 10 - Dividend Income

ONGC Videsh has around $100 mn of dividend income stuck in Russia: Official

India's flagship overseas firm ONGC Videsh has less than USD 100 million of dividend income lying in Russia because of Ukraine conflict but the company is not in a hurry to bring it back, a senior official said on Monday. Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in the Vankorneft oil and gas field and another 29.9 per cent in the TAAS-Yuryakh Neftegazodobycha fields. They get dividends on profits made by the operating consortium from selling oil and gas produced from the fields. Soon after invading Ukraine in February last year, Russia put restrictions on repatriation of dollars to check volatility in foreign exchange rates. OVL, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), got its last dividend back in July 2022. One dividend payout that came after that is lying in the company's account in Russia. Its managing director Rajarshi Gupta said the dividend .

Public sector banks' total dividend payout 58% higher than in FY22: Report

Three out of 12 PSBs namely SBI, Bank of Baroda, and Canara Bank, declared a three-digit dividend during the year

Tata Trusts to earn Rs 267 cr as dividend income from Tata Sons in FY22

Tata Sons, the unlisted holding company of Tata Group of companies, has announced a dividend of Rs 10,000 per share at the rate of 1,000 per cent

HDFC Ltd net profit surges 22% YoY to Rs 3,668 crore in June quarter

It looks to raise $1.1 billion in external commercial borrowing

8 bn rubles of Indian oil companies stuck in Russia, says officials

All dividend income prior to Ukraine war was repatriated but the one that accrued after that is stuck, said Harish Madhav, Director (Finance), Oil India Ltd, which is one of the partners in the fields

Bank of Maharashtra to pay 5% dividend from net worth on govt nudge

The payout will make a small dent in lender's capital adequacy ratio; stock sheds 3.73% on BSE

Top Headlines: Top promoters' dividend income jumps, NRI deposits moderates

India's top promoters and business families' income jumped from equity dividends and share buybacks in FY22 while flow of money into NRI deposits moderated sharply to $3.23 bn in FY22.

Best of BS Opinion: New idea of India, BJP is as safe as a big bank & more

Here are the best of Business Standard's opinion pieces for Tuesday

Inflation tax masquerading as dividend income

What we have is effectively a tax though it is subtle and non-transparent as it is collected indirectly through the RBI.

Tata Sons finances escape Covid blow; TCS remains the prime cash cow

Holding firm set to get record Rs 22,000 crore dividend from group companies

'Dividend payout norms for NBFCs should come into effect from FY22': FIDC

FIDC has written to the RBI seeking implementation of the proposed guidelines for dividend distribution by NBFCs with effect from April 1, 2021

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

FPIs may face challenges related to withholding tax on dividend income

The tax applies even to FPIs that might otherwise have been protected from a higher tax rate because of existing treaties

Dividend income, partnership firms two ways to reduce income tax liability

Most tax experts and chartered accountants say their high-net-worth clients are rattled

Govt may have to settle for lower dividend income from PSUs in FY19

Rising oil prices, diminishing cash pile to limit capacity in 2018-19