Gas major GAIL (India) Ltd.'s board has approved a dividend of Rs 4 per share of face value Rs 10 for the current financial year.

The record date for the dividend has been fixed at March 21, 2023, the company informed the exchanges on Monday.

This is the first dividend the company will pay for the financial year ending March 2023. It had paid a final dividend of Rs 1, and two interim dividends of Rs 4 and Rs 5, respectively, during the previous fiscal.

The shares of GAIL (India) closed 0.41% lower at Rs 110.60 apiece on Monday, compared with a 1.52% decline in the benchmark Nifty 50.