GAIL declares second interim dividend for FY22; check details here
State-owned gas utility GAIL (India) Ltd on Friday declared a second interim dividend of Rs 5 per equity share of the company for financial year 2021-22. “The board of directors of the company in its 438th meeting held today i.e. 11th March, 2022 has, inter-alia, approved the payment of 2nd interim dividend for the FY 2021-22 @50 per cent (Rs 5/- per equity share) on the paid-up equity share capital of the company,” the Maharatna public sector company said in an exchange filing.
The company has fixed March 22 as the record date for the second interim dividend, it added.
GAIL, in a statement, added that the total dividend payout will be Rs 2,220.19 crore. The company had declared the first interim dividend of Rs 4 per share for FY22 in December 2021.
The total dividend payout for both interim dividends will be Rs 3,996.35 crore, the company said.
GAIL Chairman and Managing Director Manoj Jain said 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 stated.
The government held 51.80 per cent stake in the company as of December 2021. Based on this, it will receive Rs 1,142.29 crore as second interim dividend.