State-run GAIL (India) has declared its second interim dividend of Rs 5 per equity share for FY 2021-22, amounting to 50% on the paid-up equity share capital.
The record date for the interim dividend is March 22, 2022. A company statement said that the total amount for the company's second interim dividend would be Rs 2,220.19 crore.
The decision on the interim dividend was taken by the board of directors of GAIL at its meeting on Friday.
For the FY22, GAIL has already declared an interim dividend of Rs 4 per share to its shareholders in
the month of December 2021 taking the total of first and second interim dividend by the Company to Rs 9 per equity share, which is 90% on the paid-up equity share capital and total dividend amount is Rs 3,996.35 crore.
Manoj Jain, Chairman & Managing Director, GAIL stated that the company’s shareholders have been provided with steady long-term returns on their investments. He also said that, it is the highest ever dividend payment in terms of total dividend amount by GAIL.
Based on current shareholding of Government of India (51.45%), dividend of Rs 1,142.29 crore will be paid to the Centre and Rs 1,077.90 crore to other shareholders.
Last month, the public sector major reported a two-fold increase in consolidated net profit to Rs 3,780 crore for the December quarter, while its revenue at Rs 26,175.60 crore was 65% higher than the year-ago.
In third quarter a year ago, the company had posted a consolidated net profit of Rs 1,883.61 crore, while revenue from operations stood at Rs 15,675.40 crore.
On Friday, shares of the company on the BSE closed at Rs 152.45, higher by Rs 5.00 or 3.39 per cent from its previous close.
