This CNG, PNG Distribution Company Fixes Record Date For Dividend; Know Details

CNG and PNG distribution company, Mahanagar Gas (MGL) has fixed the record date for its final dividend for the financial year FY22. In its regulatory filing, MGL said the 27th annual general meeting (AGM) is scheduled to be held on Wednesday, August 24, 2022. Further, MGL said, ” The Record Date (“cutoff”) for the purpose of 27th AGM and ascertaining the eligibility of Final Dividend for the Financial Year 2021-2022 is Tuesday, August 16, 2022.” MGL stated that the final dividend, if declared at the said AGM, will be paid within 30 days of its declaration, to those Members whose names appear in the Register of Members of the Company and/ or Register of Beneficial Owners maintained by the Depositories, as on the Record Date (“cut-off’), i.e. Tuesday, August 16, 2022.

The company has declared a 155 per cent dividend on its equity shares and plans to identify eligible shareholders for the benefit next month. The company needs shareholders approval for the dividend in the upcoming AGM.

So, MGL shares are likely to turn ex-dividend on August 15. The ex-dividend date for a stock is the business day before the record date of declaring eligible shareholders for the payout.

In May, the company announced a final dividend of Rs 15.50 i.e 155 per cent per equity shares having a face value of Rs 10 each for the financial year ended March 31, 2022. This is in addition to an interim dividend of Rs 9.50 per equity share (95 per cent) paid to all eligible shareholders in February this year.

Read all the Latest News and Breaking News here