GAIL declares record dividend for FY22; total payout to be Rs 2,220 crore

GAIL (Representative image)

State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 percent (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 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.

Based on the current shareholding of the Government of India (51.45 per cent), a dividend of Rs 1,142.29 crore shall be paid to the government and Rs 1,077.90 crore to other shareholders.