Mishra Dhatu Nigam Declares Interim Dividend, Fixes Record Date

Mishra Dhatu Nigam Ltd. on Wednesday said that it will pay interim dividend of Rs 0.75 against each share held by its investors.

The board of directors at its meeting held earlier in the day approved the declaration of interim dividend at the rate of 7.50% per equity share of Rs 10 each for the financial year 2024-25, according to the company's exchange filing.

It also added that the record date for determining entitlement of the interim dividend will be March 25.

Earlier, on March 12, the specialty steelmaker had informed about the closure of the trading window in accordance with the SEBI Regulations, 2015 and in keeping with the company's insider trading rules.

On Tuesday, the public sector undertaking had informed via stock exchange filing that BSE Ltd. and National Stock Exchange of India Ltd. had imposed a fine of Rs 5.8 lakh each on the company for the quarter ended on Dec. 31, 2024.

The penalty was on account of "non-compliance under SEBI listing and disclosure regulations 17(1); 18(1); and 19(1), and 19(2)," it said.

The company added that it has not paid any fine to stock exchanges on account of non compliances pertaining to board composition, as authority for appointment of directors on its board vests with the President of India acting through Ministry of Defence. The board has no role in it, the firm said.

Mishra Dhatu Nigam also said that it will seek waiver of the fine levied by BSE and NSE on account of impossibility of compliance according to the policy for exemption of fines.

The fine levied by NSE, BSE has no impact on the financial, operation or other activities of the company, the filing stated.

Shares of Mishra Dhatu Nigam on Wednesday closed 8.4% higher at Rs 284.6 apiece on the BSE, compared to a 0.2% advance in the benchmark Sensex.