News: GAIL (India) Limited, a government-owned enterprise, has unveiled its dividend for the fiscal year 2024. With a current dividend yield surpassing 4.50%, the company emerges as an appealing investment choice for shareholders. This piece will delve into the specifics of GAIL’s dividend, offering perspectives on the company’s performance and the prevailing market dynamics.
GAIL’s Dividend Announcement and Record Date
At the board meeting convened on January 29, 2024, GAIL (India) Limited officially announced its dividend for the fiscal year 2024. The record date for this dividend has been scheduled for February 6, as outlined in a filing with the exchange. Additionally, the board deliberated on the Un-Audited Financial Results for the quarter concluding on December 31, 2023.
Shareholders’ Eligibility and Dividend Yield
Pending approval from the Board, shareholders possessing GAIL shares on the record date, February 6, will qualify for the interim dividend proposed for the fiscal year 2023-24. The reported dividend yield for GAIL stands at over 4.50%, suggesting an advantageous return on investment for shareholders.
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Market Performance
Over the last three months, GAIL’s shares have experienced notable growth, marking a substantial 40% increase in value. Presently, as of today, the share price for GAIL is recorded at INR 184.75, indicating a daily uptick of +3.85%. The stock’s 52-week high is noted at INR 184.90. These figures underscore the dynamic and robust performance of GAIL in the stock market.
Importance of GAIL (India) Limited
GAIL (India) Limited, previously recognized as Gas Authority of India Ltd., is a distinguished central public sector undertaking. Bestowed with Maharatna status on February 1, 2013, GAIL is engaged in diverse business segments encompassing natural gas, LNG, liquid hydrocarbons, LPG transmission, petrochemicals, city gas distribution, renewable energy, exploration and production, GAILTEL, and electricity generation. The company’s expansive presence across these sectors reflects its multifaceted operations and strategic significance in the energy industry.
GAIL is notably recognized for its extensive pipeline network, spanning approximately 13,722 km. Its pivotal role in the National Gas Grid is underscored by continuous efforts to enhance and extend its pipeline infrastructure through various ongoing projects. In a groundbreaking achievement in 2023, GAIL reached a significant milestone by successfully completing the world’s first ship-to-ship LNG transfer. This accomplishment stands as a testament to the company’s commitment to innovation and its leadership in the dynamic landscape of the energy sector.
The declaration of dividends for the fiscal year 2024 by GAIL (India) Limited has solidified the company’s appeal as an enticing investment choice for shareholders. Boasting a dividend yield exceeding 4.50% and experiencing a noteworthy uptick in share value, GAIL continues to showcase dynamic performance in the stock market. As a prominent entity in the energy sector, GAIL’s expansive pipeline network and ongoing projects underscore its dedication to fulfilling the nation’s energy requirements. Investors and stakeholders keenly track the company’s movements on the stock market, seeking real-time updates on its performance.
FAQs
Q: When is the record date for GAIL’s 2024 dividend?
A: The record date for GAIL’s 2024 dividend is scheduled for February 6.
Q: What is the dividend yield for GAIL?
A: GAIL’s reported dividend yield exceeds 4.50%.
Q: How much is GAIL’s current share price?
A: GAIL’s share price as of today is INR 184.75.
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