GAIL India declares dividend of Rs 4 per share

14 Mar 2023 , 12:17 PM

GAIL (India) Limited, a prominent public sector enterprise operating under the Ministry of Petroleum & Natural Gas, has announced an interim dividend for the fiscal year 2022-23. The dividend amounts to 40% of the paid-up equity share capital, which is approximately Rs 4 per equity share (totaling Rs 2,630 crore). 

The Board of Directors has approved this decision in a meeting held on March 13, 2022, with a record date of March 21, 2023.

According to Shri Sandeep Kumar Gupta, who serves as both the Chairman and Managing Director of GAIL, the company has consistently offered its shareholders a reliable source of long-term returns on their investments.

Additionally, taking into account the current ownership of the Government of India (51.52%), a dividend of Rs1,355 crore will be distributed to the government, while other shareholders will receive a total of Rs1,275 crore.

GAIL’s profit in the October-December quarter increased 121% to Rs3,288 crore from Rs1,487 crore the previous year, owing to spectacular gains in the natural gas marketing and LPG businesses. Revenue from operations increased by 67% to Rs25,776 crore.

At around 12.19 PM, GAIL India was trading 0.091% lower at Rs110.05, against the previous close of Rs110.20 on NSE. The counter touched an intraday high and low of Rs111.30 and Rs109.70 respectively.

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