Miniratna PSU Stock Under Rs 300: 20% Final DIVIDEND announced

miniratna psu stock under rs 300: 20% final dividend announced

PSU Dividend Stock: The state-owned Miniratna company, Mangalore Refinery and Petrochemicals (MRPL), has announced that it will pay dividends to its shareholders. A dividend is the distribution of a portion of a company’s earnings to its shareholders, usually in the form of cash or additional shares of stock. The company has recommended a 20 per cent final dividend payment on each stock for the financial year ended March 31, 2024.

The said dividend, however, remains to be approved by shareholders at the ensuing Annual General Meeting. If approved, the next dividend will be paid to shareholders, subject to their eligibility on the record date.

Mangalore Refinery and Petrochemicals (MRPL) Dividend 2024 Amount

According to exchange data, MRPL will pay 20 per cent final dividend on each stock having a face value of Rs 10. Accordingly, the 20 per cent dividend translates into Rs 2 apiece.

“.. the Board of Directors has recommended a Final Dividend of Rs 2/- per equity share of Rs 10/- each fully paid-up i.e. @ 20% for the Financial Year 2023-24, subject to approval by the Members of the Company at the ensuing Annual General Meeting,” said the company in an exchange filing on the BSE.

Mangalore Refinery and Petrochemicals (MRPL) Record Date

MRPL, in an exchange filing, said that the record date for payment of the final dividend would be fixed and intimated in due course.

Mangalore Refinery and Petrochemicals (MRPL) Dividend 2024 Payment date

According to the information available on the exchanges, the said dividend, if approved at the Annual General Meeting, would be paid within 30 days from the date of declaration at the AGM.

Mangalore Refinery and Petrochemicals (MRPL) Dividend History

MRPL boasts a rich history of paying dividends to its shareholders. The company has already paid an interim dividend of Re 1 in February 2024. The company has in the past paid a dividend of Rs 1 in 2029, Rs 3 in 2028 and Rs 6 in 2027, as per the BSE data.

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