GAIL announces record date for dividend: Details inside
Premium- With a market valuation of ₹63,164.79 crore, GAIL (India) Ltd. is a large cap company that operates in the gas and petroleum industry.
With a market valuation of ₹63,164.79 crore, GAIL (India) Ltd. is a large cap company that operates in the gas and petroleum industry. GAIL (India) Limited holds a Maharatna status from the government of India. The company is also India's leading natural gas company. In India, GAIL controls over 70% of the market for gas transmission and over 50% of the market for gas marketing. In order to determine the eligibility of the shareholders for the purpose of 10% dividend, the Board of Directors of the company have announced the record date today.
The Board of the company has said in BSE filing that “We would like to inform that for the purpose of payment of Final Dividend @ 10% (Re. 1 per equity share) on the paid-up equity share capital of the Company, the "Record Date" will be Tuesday, 2nd August, 2022, if approved by the shareholders at the aforesaid AGM. This is in compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."
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The shares of GAIL closed today at ₹144 apiece level, up by 2.53% from its previous close of ₹140.45 per share. The stock has dropped 0.24 per cent over the past year, but on a year-to-date basis, it has gained 9.55 per cent so far in 2022. The stock has climbed by 9.80 per cent in the past month but has fallen by 2.67 per cent over the past six months. On the NSE, the shares of GAIL had touched a 52-week-high of ₹173.5 on 19-April-22 and a 52-week-low of ₹125.20 on 20-December-21 which indicates that at the current market price the stock is trading at 17% below the 52-week-high and 15.01% above the 52-week-low. Based on the last traded price, the stock is trading higher than 5 days and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages. Recently, 166 Compressed Natural Gas (CNG) stations were dedicated to community service by Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Housing, and Urban Affairs. These CNG stations were built by GAIL (India) Limited and nine of its group's City Gas Distribution (CGD) firms in 41 geographical areas across 14 states of the country.
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