Man Infraconstruction Announces Second Interim Dividend for FY25
Man Infraconstruction Limited (MICL) has declared its second interim dividend for the financial year 2024-25. The decision was made during the company's Board of Directors meeting on February 3, 2025, where the unaudited results for Q3 FY25 were also approved.
Dividend Details
As per the official announcement to the stock exchanges, Man Infraconstruction has declared a second interim dividend of Rs 0.45 per share. This dividend applies to 37,52,89,565 equity shares with a face value of Rs 2 each. This translates to a 22.5% dividend based on the face value, underscoring the company's commitment to maximizing shareholder value.
Record Date
The Record Date for determining shareholder entitlement for the second interim dividend has been set for 12th February 2025. To comply with the T+1 settlement rules, investors need to purchase MICL's shares at least one day before the record date to be eligible for the dividend.
Renewable Energy Initiatives
Man Infraconstruction, a significant player in the Indian infrastructure industry, is actively pursuing projects in the renewable energy sector. In collaboration with a leading UK multinational, MICL will construct the first solar park in Maharashtra, named the Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP). This solar park is set to have a substantial capacity of 1.2 GW and will be developed on 4200 acres of land in the Solapur district.
The CSMSUP project will utilize advanced solar panels with a capacity of 750 watts each, mounted in both fixed and tracking configurations to maximize energy generation. This project will contribute significantly to India's renewable energy targets, reduce carbon emissions, boost the economy, and create job opportunities in the region.
Expanding Renewable Energy Portfolio
In addition to the CSMSUP project, Man Infraconstruction is expanding its renewable energy portfolio with other scheduled solar hybrid projects of 1200 MW in Maharashtra and 500 MW in Andhra Pradesh. The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) is supporting the Andhra Pradesh project in the Prakasam District.
This project is anticipated to benefit from NREDCAP's provision of grid connection, land allocation, and capacity allocation under the AP Integrated Clean Energy Policy 2024, with an investment of 2,500 crores over 2000 acres.
Infrastructure Development
Man Infraconstruction continues to enhance its competitive position in multi-disciplinary infrastructure development, including roads, bridges, flyovers, and civil works construction. Focusing on quality, safety, and adherence to schedules, MICL plays a crucial role in building India's infrastructure and driving economic growth.
Key Points
- MICL declares second interim dividend of Rs 0.45 per share
- Record Date for dividend entitlement set for 12th February 2025
- Company is developing a 1.2 GW solar park in Maharashtra
- MICL is expanding its renewable energy portfolio with projects in Maharashtra and Andhra Pradesh
- Focus on multi-disciplinary infrastructure development
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