The nation’s largest gas distribution firm, GAIL (India) Ltd. on Friday announced a Rs 1,046.35 crore share buyback programme to return surplus cash to shareholders
Price of Buyback
The Board of the company has approved the buyback price at Rs 150 per share.
Which represent 1.55 per cent of the total number of fully paid-up equity shares.
Record and Payment Date
The record date for buyback of equity shares as well as payment of the interim dividend will be January 28
Shareholder
The government owns 51.76 per cent shares of GAIL and is expected to participate in the share buyback.
Dividend
With the Buyback plan, the company has also declared an interim h of 25 per cent (Rs 2.50 per share) for financial year 2020-21.
Impact on Stock Market
GAIL stock was down 2.2 per cent on the BSE and was trading at Rs 140.75 at 14.15 Hrs.
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