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New UserCoal India approves interim dividend of Rs 18.75 for FY17
07 Mar 2017
Coal India today said its board has approved an interim dividend of Rs 18.75 per
share for 201617 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 201617 at Rs 18.75 per share of face value of Rs
10 recommended by the Audit Committee of CIL in 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
Source: Economic Times