Dividend Policy at Hindustan Petroleum Corporation Limited (HPCL)

HPCL was incorporated as a public-sector undertaking by the Government of India (GOI) in 1974, after the GoI acquired the shares in ESSO Standard Refining Company of India Limited (ESSO) and the subsequent merger of ESSO and Lube India Limited . Again in 1976, the GOI acquired shares of Caltex Oil Refining (India) Limited (Caltex) and in 1978, it merged Caltex with HPCL. In 1979, Kosan Gas Company limited merged with HPCL...