Comments
The board of directors of GAIL (India) Ltd. on Monday approved a second interim dividend of ₹2.5 per equity share on the post buy-back paid-up equity share capital of the firm.
GAIL had reported a consolidated net profit of ₹1,897.04 crore for the third quarter of the ongoing financial year, 6.5 per cent lower on a year-on-year basis.
On January 15, the GAIL board had declared an interim dividend of ₹2.50 per equity share, amounting to ₹1,127.54 crore.
The company board had also approved buyback not exceeding 6,97,56,641 fully paid-up equity shares at ₹150 apiece, for an aggregate consideration not exceeding ₹1,046.35 crore, excluding applicable taxes.
GAIL’s new interim dividend is part of a second wave of dividend declarations by government companies. Power Finance Corporation Ltd. had announced an interim dividend on ₹8 per equity share on Friday. The boards of Indian Oil corporation Ltd. and Bharat Petroleum Corporation Ltd. will meet tomorrow to discuss a second interim dividend.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.