The board of directors of Cairn India Ltd (CIL) on Wednesday declared interim cash dividend of Rs 5 an equity share on a face value of Rs 10 a share.
This is the maiden dividend declared by the company.
The dividend is proposed to be paid on or before November 15 to shareholders on record as on November 6.
According to a statement issued by the company, “This will entail an outflow of Rs 1,109 crore including the dividend distribution tax of Rs 155 crore”.
The stock closed with a marginal gain of 0.4 per cent at Rs 336.6 on the BSE on Wednesday.