Coal India shares edge higher after board approves payment of interim dividend
The board approved payment of interim dividend for FY22 at Rs 9 a share of the face value of Rs 10 as against Rs 7.5 a unit announced last year, the company said in an exchange filing
November 30, 2021 / 10:23 AM IST
Coal India share price edged higher in the morning session on November 30 after the state-owned miner's board approved an interim dividend for FY22 at Rs 9 a share of the face value of Rs 10 as against Rs 7.5 a share announced last year, the company said in an exchange filing.
The coal mining and refining corporation has fixed December 7, 2021 as the record date for the dividend payment and the date of payment from December 21, 2021, it added.
The stock was trading at Rs 156.65, up Rs 2.35, or 1.52 percent at 9.55 am. It touched an intraday high of Rs 158.90 and an intraday low of Rs 154.25.
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The government will receive around Rs 3,667 crore as an interim dividend from Coal India for the financial year 2021-22, a PTI report said. The Maharatna PSU announced a 90 percent interim dividend for FY22, and the total outgo for the purpose will be around Rs 5,546 crore, the report added.
India's largest producer of coal reported a consolidated profit after tax (PAT) of Rs 2,933 crore for the July-September quarter, decreasing marginally by 1 percent from a PAT of Rs 2,952 crore in the corresponding quarter last year. Consolidated PAT dipped 8 percent from Rs 3,174 crore reported in the preceding quarter.
The consolidated revenues from operations at Rs 23,291 crore climbed 10 percent from Rs 21,153 crore recorded in the corresponding quarter last year.