Rs 2/Sh Dividend: Miniratna PSU Sets Aug 9 As Record Date, Shares Gain 163% In 1-Yr

Mid cap public sector undertaking Mangalore Refinery & Petrochemicals Ltd shares today declined by 0.55% to Rs 216.55 per share on BSE. Today the miniratna PSU fixed August 9, 2024 as the record date for final dividend of Rs 2/- per equity share of Rs 10/- each for the financial year 2023-24. The company will hold its annual general meeting (AGM) on August 22, 2024. Mangalore Refinery shares fell over 10% in last 2-weeks and gave return of 163% in last 1-year. The company's market capitalisation stood at Rs 37,952.53 crore. More details pertaining to Mangalore Refinery below:

Mangalore Refinery Sets Record Date For Final Dividend: As per the regulatory filing of Mangalore Refinery issued as on July 25, "The Board of Directors at its meeting held on Friday, 03 May, 2024, had recommended a final dividend of ₹2/- per equity share of ₹10/- each fully paid-up i.e., @ 20% for the Financial Year 2023-24, subject to approval by the Members at the Annual General Meeting ("AGM") scheduled to be held on Thursday, 22 August, 2024.

The Company has fixed Friday, 09 August, 2024, as the Record Date for determining Members entitled to final dividend for the Financial Year ended March 31, 2024. The final dividend as recommended by the Board if approved at the AGM, payment of such dividend, subject to deduction of tax at source, will be made within 30 days of approval, added the regulatory filing.

Mangalore Refinery Share Performance: The 52-week high price of Mangalore Refinery shares on BSE is Rs 289.25 apiece (as on 19/02/2024) and 52-week low price is Rs 80.15 apiece (as on 31/07/2023), respectively. Mangalore Refinery shares fell over 5% in last 1-week, gained 63% year-to-date, offered return of 196% in last 2-years, and rose 375% in last 3-years.

About MRPL: Mangalore Refinery and Petrochemicals Limited (MRPL) is a Category 1 Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and high flexibility to process Crudes of various APIs, delivering a variety of quality products. Before acquisition by ONGC in March 2003, MRPL, was a joint venture Oil Refinery promoted by M/s Hindustan Petroleum Corporation Limited (HPCL), a public sector company and M/s Indian Rayon and industries limited(IRIL) (AV Birla Group). MRPL was set up in 1988 with the initial processing capacity of 3.69 MMTPA that was later expanded to the present capacity of 15.0 MMTPA.

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