Pawan Hans pays 20 pc dividend to ONGC

NEW DELHI: National helicopter company Pawan Hans Helicopters Ltd (PHHL) has paid a total dividend of Rs 4.9 crore (20 per cent) to Oil and Natural Gas Corp (ONGC) for 2005-06.

Of this, a dividend of 8 per cent for 2005-06, amounting to Rs 1.96 crore was paid earlier. The remaining 12 per cent, amounting to Rs 2.94 crore, was paid by PHHL chairman R K Tyagi to ONGC boss R S Sharma here today, a company press release said.

On the occasion, Pawan Hans also paid an interim dividend of 8 per cent (Rs 1.96 crore) for 2006-07 to ONGC.

ONGC holds 21.5 per cent equity of Pawan Hans while the balance 78.5 per cent is with the government.

PHHL has a fleet of 33 helicopters.

Tyagi, who was formerly general manager of ONGC looking after its air logistics, said PHHL is envisaging augmenting its fleet and service portfolio to establish itself as a key player in the industry.