The Business Bytes
TBB BUREAU
NEW DELHI, MARCH 13, 2022
State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payout 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 & Natural Gas, at their meeting here on Friday,” it said.
For the current fiscal 2021-22, GAIL has already declared an interim dividend of Rs 4 per share to its shareholders in December 2021 taking the total of first and second interim dividend by the Company to Rs 9 per Equity share (90 percent on the paid-up Equity Share Capital), and total dividend payout to Rs 3,996.35 crore.
GAIL Chairman & Managing Director Manoj Jain stated that the company’s shareholders have been provided with steady long-term returns 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 Government of India (51.45 per cent), dividend of Rs 1,142.29 crore shall be paid to the government and Rs 1,077.90 crore to other shareholders.
