Bonus and interim dividend take GAIL India on 52-week high
DSIJ Intelligence / 27 Jan 2017
The board of directors of oil drilling and exploration company GAIL India has recommended 1:3 bonus issue in its recent meeting held on January 25 2017. The company will issue one bonus share of face value (FV) of Rs 10 for every three shares of FV of Rs 10 held. The board has also approved an interim dividend of Rs 8.5 per share for its existing shareholders for which the record date will be February 3, 2017.
The board of directors of oil drilling and exploration company GAIL India has recommended 1:3 bonus issue in its recent meeting held on January 25 2017. The company will issue one bonus share of face value (FV) of Rs 10 for every three shares of FV of Rs 10 held. The board has also approved an interim dividend of Rs 8.5 per share for its existing shareholders for which the record date will be February 3, 2017.
Ever since the announcement on January 9, 2017, the company has gained more than 12 per cent and outperformed the market. The company has also recently approved issue of bonds for raising funds of up to Rs 1,500 crore.
The stock of GAIL India has gained more than 3 per cent and made a new 52-week high of Rs 493.80 per share on Friday.
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