Dividend paying stock GAIL trades ex-dividend today, shares rise
Premium- GAIL has fixed August 2, 2022 as the record date for its final dividend
Shares of GAIL (India) Ltd rose on the BSE in Monday's early deals as the stock started trading ex-dividend, a day ahead of the record date for its final dividend on Tuesday, August 2, 2022.
"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," GAIL had informed in an exchange filing last month.
Last week, the company's board of directors recommended the issuance of bonus shares in the ratio of 1:2. Under the ratio, a shareholder will earn one new equity share as a bonus on two existing shares. The bonus issue is subject to the approval of the shareholders at the 38th AGM of the company to be held on 26th August 2022.
In its regulatory filing, Gail said, the board recommended the issuance of bonus shares in the ratio of 1:2 i.e. one new bonus equity share having a face value of ₹10 each for every two existing equity shares of ₹10 each fully paid-up.
Govt-owned GAIL is a natural gas explorer and producer engaged in the natural gas processing and distribution in India. The government is the promoter and its operations are overseen by the Ministry of Petroleum and Natural Gas. GAIL shares are up nearly 12% in 2022 (YTD) so far as compared to over 2% fall in benchmark BSE Sensex. The stock is up over 3% in a year's period.
Last month, GAIL announced its plans to enter into distributed liquefied natural gas (LNG) production with the vision to cater the demand from off-grid locations and transport sector. It placed order for two small-scale liquefaction skids capable of producing LNG on a pilot basis.
MINT PREMIUM See All
Liquefaction will be achieved through proprietary technology-based mobile liquefaction skids. These plants will help in distribution of natural gas through liquefaction in new CGD areas, liquefaction of gas at isolated fields and will support setting-up of LNG fueling stations and in bunkering.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less