Coal India’s announcement of an interim dividend of Rs 18.75 per share for FY17 looks surprising if one looks at the stress on the company’s performance, and the fact that it has already utilised Rs 3,650 crore of cash to buy back shares in the past few months to reward shareholders.
While the two moves may equal the Rs 24.50 per share of dividend for FY16, the company’s consolidated net profit is down 33.6 per cent year-on-year at Rs 6,550 crore in the nine months ended December 2016. And, analysts predict the year to end with profits down 25 per cent. But, a look at the. Read more