Mahanagar Gas Board To Consider Interim Dividend On Jan. 28

Mahanagar Gas Ltd. on Monday said that its board of directors is scheduled to meet on Jan. 28 to consider and approve interim dividend for the shareholders.

At the same meeting, the board will also consider and approve the consolidated financial results for the quarter and nine months ended Dec. 31, 2024, according to the company’s exchange filing.

The public sector undertaking firm’s disclosure added that it has fixed Jan. 31, 2025 as the record date to determine shareholders eligible for the interim dividend payout.

As a result, only those equity shareholders, whose names appear on the register of members of the company, or in the records of depositories as beneficial owners on the record date, will be eligible for the dividend payout.

In a separate filing, the gas distribution company had on Sunday disclosed that it has received a demand order of Rs 54.33 crore from joint commissioner of CGST and central excise, Mumbai East Commissionerate.

Additionally, the order also includes applicable interest and 100% penalty for equivalent amount.

The GAIL India Ltd. subsidiary, however, said that it will file an appeal, as it was hopeful of a favourable order at the appellate level.

The company added that it does not expect the said tax demand order to have any material financial impact on it.

Shares of Mahanagar Gas Ltd. closed 1.09% lower at Rs 1,307 apiece on the BSE, compared to a 0.59% advance in the benchmark Sensex. The company had intimated about the interim dividend after the market hours.