GAIL announces interim dividend of Rs 4 per share, sets record date

The board of GAIL (India) approved an interim dividend of Rs 4 per equity share for the financial year 2022-23. The company fixed March 21 as the record date for determining the eligibility of shareholders for the proposed dividend.

"The Board of Directors in its meeting held today had inter-alia, approved the payment of interim dividend for FY 2022-23 at 40% (Rs 4 per equity share) on the paid-up equity share capital," the company said in a filing.

GAIL said the interim dividend will be paid with reference to the record date.


The company has paid out a dividend of Rs 6 per share in the last 12 months, which results in a dividend yield of Rs 5.4% if we consider the current share price levels. Adjusting for the bonus and splits, the dividend yield is 3.6%.

According to trendlyne data, GAIL has an average target price of Rs 113.33, an upside of nearly 3% from the current levels. Technically, the stock is trading above 8 out of 8 SMAs (simple moving averages).

On Monday, the stock closed 0.41% lower at Rs 110.60 apiece on NSE. On a year-to-date basis, the shares have gained 15% so far this year. The stock is currently trading near its 52-week high of Rs 115.67, which was hit in April last year.
In the recent December quarter, GAIL (India) reported a nearly 93% slump in quarterly net profit, hit by lower gas sales due to supply disruptions. The state-owned gas company's standalone profit tumbled to Rs 246 crore from Rs 3,288 crore a year earlier.

GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production and transmission, LNG regasification, and petrochemicals, among others. The company owns and operates a network of around 14,617 km of natural gas pipelines across the country.

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