The company informed that accordingly, effective 1st July 2020, MPCL has been allowed to declare and distribute dividends in accordance with the provisions of the Companies Act 2017 (as amended from time time) and the Companies (Distribution of Dividends) Regulations, 2017.
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Just days ago, ECC of the Cabinet made this decision of removal of dividend cap to ensure that the divestment transaction generates optimum sale proceeds for the government.