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Coal India has said that its Board has approved an interim dividend of Rs 18.75 per share for the 2016-17 financial year. The government 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 CIL in its meeting held on date,” Coal India said in BSE filing.
As per the December quarter shareholding pattern, the government holds approximately 495 crore shares of the PSU. 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 purpose of payment of interim dividend, the filing said.