Centre To Get Rs 8,044 Cr As Dividend From CIL

Centre To Get Rs 8,044 Cr As Dividend From CIL

The Central government is expected to get Rs 8,044 crore as interim dividend from state-owned Coal India Ltd for the fiscal year 2017-18.

The miner’s board of directors have approved payment of interim dividend for the current fiscal at a rate of Rs 16.50 per share, it said in an exchange filing.

The Centre will also garner around Rs 2,085 crore as dividend tax from the mining major, a senior Coal India official told PTI.

The company’s total payout on account of dividend is to the tune of Rs 10,242 crore. The government currently holds 78.5 per cent in Coal India. Read More…

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