Coal India Approves Interim Dividend Of Rs 18.75 For FY17
Coal India on Monday said its board has approved an interim dividend of Rs 18.75 per share of face value of Rs 10 for the financial year 2016-17.
The government, which holds a little over 79 percent stake in the coal major, is likely to get around Rs 9,200 crore from the total interim dividend payout.
As per the shareholding pattern in the December quarter, the government holds approximately 495 crore shares of the public sector unit. So, an interim dividend of Rs 18.75 apiece would translate to a payout of around Rs 9,200 crore to the government.
The total interim dividend payout by Coal India would be around Rs 11,500 crore.
The company has fixed March 15, 2017 as the record date for the payment of interim dividend, the filing said.
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