Mahanagar Gas (MGL), a major CNG and PNG supplier, has set a record date for its final dividend for the financial year FY22. The company has declared 155% dividend on its equity shares and plans to identify eligible shareholders for profit next month. The company needs shareholders’ approval for dividend at the upcoming AGM. On Monday, there was volatility in the shares of MGL and it closed in the red mark.
In its regulatory filing, MGL said that the 27th Annual General Meeting (AGM) is scheduled to be held on Wednesday, August 24, 2022.
Further, MGL stated, “the record date (“cutoff”) for the purpose of the 27th AGM and ascertaining the eligibility of the final Dividend Tuesday, August 16, 2022 for the fiscal year 2021-2022.”
MGL stated that the final dividend, if declared at the said AGM, shall be paid within 30 days of its declaration to the members whose names appear in the register of members of the company and/or the register of beneficial owners maintained by the depository. can be seen. As on the record date (“cut-off”), i.e. Tuesday, 16 August 2022.
This also means that the shares of MGL can be converted into ex-dividend on August 15.
The ex-dividend date for the stock is the business day prior to the record date for declaring eligible shareholders for the payout.
In May, the company declared the final dividend of 15.50 i.e. 155% per equity share whose face value is 10 each for the financial year ending March 31, 2022. This is in addition to the interim dividend of 9.50 per equity share (95%) was paid out to all eligible shareholders in February this year.
With this, in FY22, MGL’s total dividend will be FY22 25 per equity share whose face value is 10 each (ie 250%).
Shares of MGL closed on BSE below 743.45 8.85 or 1.18%. Its market cap is approx. 7,343.63 crore.
For the full year of FY 2012, the net profit of the company is approx. below 596.95 cr 619.57 crore in the last financial year. revenue from operations jumped 3,884.90 crore against 2,337.79 crore in the last financial year.
GaylePromoted MGL has got a track record of almost 100% reliability in its gas supply. Presently, MGL connects 1.92 million households, over 4,272 small commercial establishments and 94 industrial establishments. MGL also supplies CNG to over 0.87 million vehicles in Mumbai, Thane, Mira-Bhayander, Navi Mumbai and others. Through MGL’s extensive distribution network, there are 292 CNG filling stations with 1,760 dispensing points.
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