Shares of the Natural Gas Authority of India (GAIL) gave up some gains in early trade on Tuesday. The stock is now trading ex-dividend starting today.

The company has identified September 7, 2022, as the record date to determine whether shareholders are eligible to issue bonus shares. The ex-rights date is the day before the equity registration date when the investor meets the conditions for bonus shares. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

India’s largest natural gas company GAIL announced a 1:2 dividend in July after reporting quarterly results. This means shareholders will receive one bonus share for every two shares they hold.

GAIL itself has regularly rewarded shareholders with four such announcements this year. In March, the company declared an interim dividend of Rs 5, followed by an announcement to buy back shares at Rs 190 per share. In August of this year, the company also announced the Re 1 final dividend distribution at the same time as the dividend was announced. Shares of state-owned GAIL Ltd were up 0.6% at Rs 91.70 on the BSE at 10:00 am.