After receiving more than Rs 11,500 crore from Coal India, the centre is further expected to receive around Rs. 2,600 crore more from this Maharatna company after the mining mammoth has decided to offer its second round of interim dividend at Rs. 5.85 per share.
Company estimates suggest that the total outgo on account of this second round of dividend is to the tune of Rs 3,605 crore which it will start to pay March 29 onwards. After three rounds of stake sales, the Centre currently holds 72.92 per cent in Coal India while the rest is held by public shareholders.
This projected payment to the government is exclusive of another ongoing share buyback programme undertaken by the company which will be completed on March 15. From this buyback too, the government is expected to receive a substantial sum of money. The maximum size of this buyback is Rs 1,050 crore. Read More