Rs 5.5 Per Share Dividend: Maharatna PSU Stock Reports Multifold Growth In Net Profit, Jumps 45% In 90 Days

Maharatna PSU Stock GAIL (INDIA) Ltd has announced its results for the quarter ending December 31, 2023 today (January 29, 2024). The Board of Directors of the Parent Company has declared an interim dividend of Rs 5.50 per equity share (face value of Rs 10 each) amounting to Rs 3,616.30 crore. The state-owned company gas distributor had earlier fixed February 6, 2024, as the record date for the purpose of payment of the Interim Dividend declared today.

On Monday, GAIL (INDIA) shares closed 3.81% higher at Rs 171.70 per share. Today, the stock traded at a new 52-week high value of Rs 174.65 per share.

In its Q3FY24 results, the company reported a 703% year-on-year jump in net profit at Rs 3,193.34 crore, compared to Rs 397.5 crore during Q3FY23. GAIL's revenue from operations rose almost 8% to Rs 34,253.52 crore, compared to Rs 31,822.62 crore in the second quarter of this fiscal.

GAIL Dividend 2024:

Today, in an exchange filing the company said, "The Board of Directors of the company in its meeting held today i.e. 29.01.2024, inter-alia, approved the payment of interim dividend for the financial year 2023-24 (₹5-5O per equity share) on the paid-up equity share capital of the company."

GAIL Dividend Payment Date:

The said dividend will be paid on Tuesday, February 6, 2024. Today, the company said, "The Interim Dividend will be paid with reference to the ''Record Date'' i.e. Tuesday, 06th February 2024 fixed for the said purpose."

GAIL Record Date for Interim Dividend:

In an exchange filing on January 18, 2024, the company said, "A meeting of the Board of Directors of the Company is scheduled to be held on Monday, 29th January 2024 to, inter-alia, consider the Un-Audited Financial Results for the Quarter ended 31st December 2023 and recommendation for payment of Interim Dividend for FY 2023-24."
The company further added, "For the purpose of payment of Interim Dividend, if so approved by the Board, the "Record Date" will be Tuesday, 06th February, 2024."

In Q3FY24, the company's EBIT (earnings before interest and taxes) from the natural gas transmission segment was Rs 1,215 crore, compared to Rs 426 crore in the year-ago period.

Meanwhile, the company's petchem segment reported EBIT of Rs 54.75 crore in the quarter, as compared to a loss of Rs 348.85 crore last year

Gail share price performance:

Shares of Gail India have gained 46.07% in the last six months, while the stock is up 73.17% in the last one year. The last 2-year and 3-year returns from Gail India shares have gained 81.48% and 105.19% respectively.

Dividend history for GAIL (India) Ltd.

According to Tredlyne Data, GAIL (India) Ltd. has declared 48 dividends since Sept. 3, 2001. At today's intraday share price of Rs 171.50, GAIL (India) Ltd.'s dividend yield is 2.33%.