Home/ Companies / News/  GAIL announces interim dividend of Rs4 per share

NEW DELHI : GAIL (India) Limited, a Maharatna CPSE under the Ministry of Petroleum & Natural Gas has approved an interim dividend of 4 per equity share for the financial year 2022-23.

“The Board of Directors of the Company in its 454th meeting held today i.e.13th March, 2023 has, inter-alia, approved the payment of Interim Dividend for the FY 2022-23 @ 40% (Rs. 4.00/- per equity share) on the paid-up equity share capital of the Company," the filing said. 

GAIL said the interim dividend will be paid with reference to the record date.

The total dividend payout would be 2,630 crore, the company said in a statement after its board of directors approved payment of an interim dividend.

GAIL chairman and managing director Sandeep Kumar Gupta said the company has been providing shareholders with a steady long-term returns on their investments.

Further, based on current shareholding of Government of India (51.52%), dividend of about 1,355 crore shall be paid to Government of India, while other shareholders will receive about 1,275 crore.

On Monday, the stock closed 0.41% lower at 110.60 apiece on NSE. On a year-to-date basis, the shares have gained 15% so far this year. At current market levels, GAIL has a market cap of 72.59 thousand crores.

GAIL (India) Ltd reported an almost 93% slump in its December quarter profit, hit by lower gas sales due to supply disruptions. The company’s standalone profit tumbled to 246 crore in the quarter under review from 3,288 crore a year earlier.

GAIL’s revenue from operations surged more than 37% to 35,380 crore on price hikes to customers.

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Updated: 13 Mar 2023, 08:28 PM IST
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