NEWS

Centre receives Rs 3,636 crore dividend from Indian Oil Corporation

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NEW DELHI: The central government has received Rs 3,636 crore from Indian Oil Corporation of India Ltd as a dividend tranche.

Read More: 99.2% of mobile phones used in India are made in India: Ashwini Vaishnaw

Also, it received received about Rs 23 crore from RailTel Corporation of India Ltd.

“Government has respectively received about Rs 3636 crore and Rs 23 crore from Indian Oil Corporation Ltd and RailTel Corporation of India Ltd as dividend tranches,” the secretary at the Department of Investment and Public Asset Management posted on its X handle on Tuesday.

Read More: Raymond boss Gautam Singhania writes to board, employees amid messy divorce

A dividend is a reward companies often provide to their shareholders, though not mandatorily, from a portion of their earnings.

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