State-owned gas utility GAIL (India) Ltd has declared a second interim dividend of 50 per cent (₹5 per share) for the current fiscal year ending March 31, 2022.

The total dividend payout will be ₹2,220.19 crore with a record date of March 22, the company said in a statement.

"The decision (to issue dividend) was taken by the board of directors of GAIL, a Maharatna CPSE under the Ministry of Petroleum & Natural Gas, at their meeting here on March 11," it said.

For the current fiscal 2021-22, GAIL has already declared an interim dividend of ₹4 per share to its shareholders in December 2021. The two interim dividends total to ₹9 per equity share (90 per cent on the paid-up equity share capital). Total dividend payout is ₹ 3,996.35 crore.

Manoj Jain, chairman and managing director, GAIL, stated that the company shareholders have been provided with steady long-term returns on their investments.

"This is the highest ever dividend payment in terms of total dividend amount by GAIL," he said.

Based on the current shareholding of Government of India (51.45 per cent), dividend of ₹1,142.29 crore shall be paid to the government and ₹1,077.90 crore to other shareholders.