merisarkar news service
New Delhi, December 24, 2010
GAIL (India) Limited has declared a 20 per cent interim dividend for the financial year 2010-11. The Board of Directors of the Company in a meeting today approved the payment of the interim dividend to the shareholders of the Company. The Company has fixed 28th of December 2009 as the 'record date' for the purpose of determining the eligibility of the members of the Company to the interim dividend.
The Company had paid a total dividend at the rate of 75 percent on the enhanced paid-up share capital of the Company for FY 2009-10.
GAIL has a consistent track-record of dividend payment. The Company has disbursed dividend of Rs.8070.91 crore (upto FY 2008-09) to the shareholders including Government of India. This is more than 6.3 times the enhanced equity capital of Rs. 1268.48 crore of the company.
During the first six months of the current year, GAIL (India) Limited registered a turnover (net of Excise Duty) of Rs. 15,200 crore and Net Profit after tax of Rs. 1,810 crore.
GAIL (India) Limited has grown into an integrated gas major that today has over 8000 Km of Natural Gas Pipelines, two Liquified Petroleum Gas (LPG) Pipelines, of over 1900 Km; seven gas processing plants for production of LPG and other Liquid Hydrocarbons with a capacity of 1.4 Million Tons per Annum, a gas based integrated 410,000 TPA Petrochemical plant, and 26 domestic and 2 overseas E&P blocks. GAIL has also formed a wholly owned subsidiary- GAIL Gas Ltd, and 8 Joint Ventures for City Gas Distribution / CNG business. GAIL has a wholly owned subsidiary company namely GAIL Global (Singapore) Pte Ltd to conduct international operations.
The turnover and Profit After Tax during the last ten years have shown a compounded annual growth rate of 13 per cent and 14 per cent respectively. The Company recorded a Turnover of Rs. 24,996 crore and Profit After Tax of Rs. 3,140 crore in the year 2009-10.
