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GAIL shares rise after announcement of interim dividend

GAIL (India) board has announced an interim dividend of Rs 4 per share on Thursday, also fixed December 31, 2021, as the record date
Oil & Gas Maharatna PSU GAIL has announced interim dividend of Rs 4 per share
Oil & Gas Maharatna PSU GAIL has announced interim dividend of Rs 4 per share

New Delhi: GAIL (India) Limited has announced an interim dividend of Rs 4 per share on Thursday. "GAIL (India) Board at its meeting held today approved the payment of an interim dividend of Rs 4 per share for the FY2021-22", GAIL said in a regulatory filing to the bourses. The interim dividend will be paid with reference to the 'Record Date' i.e. Friday, December 31, 2021, fixed for the said purpose, it added.

“The board of directors of the company in its 435th meeting held today i.e. 23.12.2021 has, inter-alia, approved payment of interim dividend for the FY 2021-22 @ 40% ( Rs 4/-per equity share) on the paid-up equity share capital of the company," the company informed in the filing.

Impact of GAIL Dividend announcement

Shares of GAIL were trading over 2 percent higher in Thursday's afternoon deals at Rs 132 apiece on the BSE. The stock has been somewhat of a dull performer in the recent bull market rally as it has risen by just 7 percent as compared to around 20 percent rise in benchmark Sensex. GAIL shares are up over 11 percent in a year's period.

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