Shares of Coal India fell 2 percent on August 18 as the stock traded ex-dividend today.
The meeting Board of Directors on May 7, 2023 recommended a final dividend of Rs 4 (40 percent) per equity share. The second interim dividend of Rs 5.25 (52.50 percent) per equity share and first interim dividend of Rs 15 (150 percent) per equity share were declared for the fiscal year 2022-23.
The record date for final dividend had been fixed as August 18, 2023.
When a stock goes ex-dividend, its share price usually decreases by the dividend amount. It is a reflection of the fact that new shareholders are not entitled to that payment.
At 10:16 am, the coal major's stock was trading percent 1.7 lower at Rs 228.2 on the BSE.
Catch up on all LIVE stock market updates here
The state-owned mining company reported an 8.5 percent rise in capital expenditure (capex) to Rs 4,700 crore from April to July in the fiscal year 2023-24. Capex usage during this period nearly achieved 100 percent of the progressive target of Rs 4,754 crore and 28.3 percent of the FY24 annual goal of Rs 16,600 crore.
Capital expenditure (capex) begins at a slower pace in the first quarter as the company outlines its spending plans at the start of the fiscal year. It then gradually increases in the following quarters, Coal India explained.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
