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GAIL declares record dividend for FY 2021-22

GAIL declares record dividend for FY 2021-22
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New Delhi: 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 March 11," 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. The two interim dividends total to Rs 9 per equity share (90 per cent on the paid-up equity share capital). Total dividend payout is Rs 3,996.35 crore.

Manoj Jain, chairman and managing director, GAIL, stated that the company 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.

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