GAIL Dividend Details Are Here

GAIL shares jumped over 1% as the markets opened on Tuesday after the company announced a ₹4 interim dividend on Monday.

What Happened: The company’s board on Monday approved a ₹4 interim dividend/ share for the current financial year. The record date for the dividend payment is March 21.

The Public Service Undertaking (PSU) said that the total dividend amount will be ₹2,630 crore. Out of the total amount, ₹1,355 crore will be paid to the government, which is the majority shareholder in the company with a 51.52% stake. The rest ₹1,275 crore will be for other investors.

See Also: Why NTPC Shares Shot Up 3% Today

The company’s profits took a 90% hit in the December quarter at ₹413.8 crore. After the Q3 results brokerages were cautiously positive on the stock. Motilal Oswal and ICICI Securities maintained the ‘buy’ rating for the stock. The company’s shares have jumped over 15% in the last month.

Price Action: Shares of GAIL were up 0.36% to trade at ₹110.65 as the markets opened for business on Monday.

Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Read Next: SBI Life Interim Dividend Details Are Here

Posted In: DividendGAILICICI SecuritiesMotilal Oswal Financial ServicesOilPublic Service Enterprise