Debt-free inventory Mahanagar Fuel Ltd (MGL) fixes document date for dividend

Mahanagar Fuel Ltd is a mid-cap firm with a market valuation of 7,393.02 crore that operates within the fuel and vitality trade. Certainly one of India’s high pure fuel distribution corporations, Mahanagar Fuel Restricted (MGL), is promoted by GAIL (India) Restricted, a Maharatna Firm of the Indian authorities. The agency offers vitality provides like fuel geysers, home PNG, business PNG, industrial PNG, and CNG. In accordance with Worth Analysis, Mahanagar Fuel Restricted is a debt-free firm with a promoter shareholding of 32.50 per cent.

For the aim of dividend, the Board of Administrators of MGL has mentioned in a regulatory submitting that “The Last Dividend of Rs.15.50 i.e.155% per fairness share of Rs.10/-each absolutely paid up, for the monetary 12 months ended March 31, 2022, if declared on the mentioned AGM, shall be paid inside 30 days of its declaration, to these Members whose names seems within the Register of Members of the Firm and/ or Register of Useful House owners maintained by the Depositories, as on the Report Date (“cut-off’), i.e. Tuesday, August 16, 2022.”

“Pursuant to Part 91 of the Corporations Act, 2013 and Regulation 42 of SEBI (Itemizing Obligations and Disclosure Necessities) Laws, 2015, the Register of Members and Share Switch Books of the Firm will stay closed from Wednesday, August 17, 2022 to Wednesday, August 24, 2022 (each days inclusive) for the aim of twenty seventh Annual Normal Assembly and cost of dividend for the Monetary 12 months 2021-22. The Report Date (“cutoff”) for the aim of twenty seventh AGM and ascertaining eligibility of Last Dividend for the Monetary 12 months 2021-2022 is Tuesday, August 16, 2022,” mentioned MGL in a inventory change submitting.

The shares of MGL closed immediately at 749.45 apiece degree, up by 2.80% from the earlier shut of 729.05. The inventory has dropped 33.04 per cent prior to now 12 months, and on a year-to-date foundation, it has declined 14.45 per cent to this point in 2022. The inventory has fallen 8.00% within the final 6 months, and 1.96% within the final 1 month. Within the final 5 buying and selling days, the inventory has plummeted 3.67%, and on the NSE immediately’s traded quantity was 4,53,505 shares amounting to a traded worth of 3,363.47 lacs.

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