State-run gas distribution company GAIL on Thursday announced an interim dividend for the current financial year. GAIL shares rose more than two percent after the announcement.

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GAIL's board approved the interim dividend of Rs 4 per equity share, according to a regulatory filing.

A record date of December 31 has been fixed for the dividend, it said.

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The interim dividend will be paid with reference to the record date, the regulatory filing added.

The company's board conducted its 435th meeting on Thursday. The board meeting commenced at noon and finished at 1.2 pm, the company said.

GAIL shares were up 1.5 percent at Rs 132.2 apiece on BSE in late afternoon deals, having risen as much as 2.3 percent to touch Rs 133.3 apiece after the announcement.

GAIL shares have risen more than 12 percent in the past one year.

Here's how GAIL shares have performed:

In October, GAIL reported a net profit of Rs 2,863 crore for the July-September period, up 87.1 percent on a sequential basis. The energy company's quarterly net profit exceeded Street estimates by a wide margin.

Its revenue increased 23.7 percent on a quarter-on-quarter basis to Rs 21,511 crore.

Analysts had predicted the company's net profit at Rs 1,980 crore over revenue of 18,594 crore for the second quarter of FY22.

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