Dividend paying stock GAIL trades ex-dividend today, shares rise

“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. GAIL shares are up nearly 12% in 2022 (YTD) so far as compared to over 2% fall in benchmark BSE Sensex.

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.

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.

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