GAIL shares trade ex-bonus ahead of record date
Gas Authority of India Ltd.'s stock shares gave back some of the gains from Tuesday's early trading minutes. Starting today, the stock will start trading ex-bonus.
The company has fixed September 7, 2022, as the record date for the purpose of ascertaining the eligibility of shareholders for the issuance of bonus shares
India's largest natural gas company, GAIL announced a 1:2 bonus issue in July, after its quarterly results.
In March this year, the company announced an interim dividend of Rs 5, followed by a share buyback announcement, which it carried out at Rs 190- per share.
In August this year, the company also declared a final dividend of Re.1 along with the announcement of the bonus issue.
Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
This implies that the shareholders will receive one bonus share for every two shares they hold.
shares of govt-owned GAIL Ltd were up 0.6 percent at Rs 91.70 on the BSE.