In a stock exchange filing, ONGC said the board would be meeting on March 23 to consider the interim dividend. ONGC had initially resisted a government demand for a second interim dividend, stating it did not have the surplus money after announcing an interim dividend of Rs 5.25 per equity share on February 14 and approving a Rs 4,022-crore share buyback. The government has been tapping cash-rich PSUs for a second interim dividend. Indian Oil Corp (IOC) has declared a second interim dividend of Rs 1,412 crore for the current financial year. Coal India Ltd on March 14 declared a second interim dividend of Rs 5.85 per share.

Source: The Telegraph March 21, 2019 21:22 UTC