Cairn India said on Wednesday declared an interim cash dividend of ₹ 5 per share. This would entail an outflow of ₹ 1,097 crore including a dividend distribution tax of ₹159 crore, which would be paid on or before October 13.
“The objective of our dividend policy is to continuously enhance value to our shareholders. In line with this policy we are delighted to announce an interim dividend of ₹ 5 per share,” said Sudhir Mathur, Interim Chief Executive Officer, Cairn India.
The company also said that it has found more oil in its Barmer block which would add to its existing oil production.