Coal India approves interim dividend of Rs 18.75 for FY17


Coal India approves interim dividend of Rs 18.75 for FY17

Coal India today said its board has approved an interim dividend of Rs 18.75 per share for 2016-17 financial year.

The government, which holds a little over 79 per cent stake in the coal major, is likely to get around Rs 9,200 crore from the total interim dividend payout.

“The Board of Directors of Coal India (CIL) in its meeting on Monday March 6, 2017 have approved payment of interim dividend for 2016-17 at Rs 18.75 per share of face value of Rs 10 recommended by the Audit Committee of CILin its meeting held on date,” Coal India said in BSE filing. As per December quarter shareholding pattern, the government holds approximately 495 crore shares of the PSU. So, an interim dividend of Rs 18.75 apiece would translate to a payout of around Rs 9,200 crore to the government.

Total interim dividend payout by Coal India would be around Rs 11,500 crore.

The company has fixed March 15, 2017 the record date for purpose of payment of interim dividend, the filing said. Read More…

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