“The decision (to issue dividend) was taken by the board of directors of GAIL, a Maharatna CPSE under the Ministry of Petroleum and Natural Gas, at their meeting here on March 11,” it said.
The state-owned GAIL (India) Ltd has announced a second interim dividend of 50 percent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payment will be Rs 2,220.19 crore with a record date of March 22. , the company said in a statement.
“The decision (to issue dividend) was taken by the board of directors of GAIL, a Maharatna CPSE under the Ministry of Petroleum and Natural Gas, at their meeting here on March 11,” it said.
For the current fiscal year 2021-22, GAIL has already announced an interim dividend of Rs 4 per share to its shareholders in December 2021. The two interim dividends total Rs 9 per share of shares (90 percent of the paid-up share capital). The total dividend payout is Rs 3,996.35 crore.
Manoj Jain, Chairman and CEO of GAIL, stated that the company’s shareholders have been getting a stable long-term return on their investments. “This is the highest ever dividend payment in terms of total dividend amount by GAIL,” he said.
Based on the current shareholding of the Government of India (51.45 percent), a dividend of Rs 1,142.29 crore will be paid to the government and Rs 1,077.90 crore to other shareholders.