The Hindu Business Line : Indian Oil pays Rs 1,460-cr total dividend

Indian Oil Corporation has paid out a total dividend of 125 per cent amounting to Rs 1,460 crore for the financial year 2005-06 on the total share capital of Rs 1,168 crore.

Mr Sarthak Behuria, Chairman, Indian Oil, presented a cheque for Rs 1,197.60 crore, representing the dividend payable to the Government of India as 82 per cent equity holder in the company, to Mr Murli Deora, Minister of Petroleum & Natural Gas.

With a record of 40 consecutive years of dividend declaration, Indian Oil has so far paid a cumulative dividend of Rs 11,602 crore to its shareholders, the company said in a statement. The net profit during the year 2005-06 was Rs 4,915 crore.

The company sold 49.61 million tonnes of petroleum products, including gas and exports, during 2005-06. Product exports went up to 2.09 million tonnes, from 1.96 million tonnes the previous year. Its seven refineries posted a combined throughput of 38.52 million tonnes for the year surpassing the previous best of 37.66 million tonnes. "Their combined capacity utilisation of 93.1 per cent during the year was also the highest in the last six years," the company said.

The pipelines network was expanded to over 9,000 km and posted a combined throughput of 45.35 million tonnes as against 43.03 million tonnes during last year.

In marketing too, the Indian Oil Group is set to leverage the combined strength of over 30,000 sales points to its full advantage with focus on the untapped rural markets, non-fuel revenues and retailing business.

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