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The board of Coal India has provided its approval for an interim dividend of Rs 18.75 per share for 2016-17 financial year.
Coal India has said in a BSE filing that “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 a face value of Rs 10 recommended by the Audit Committee of CIL in its meeting held on date.”
The government holds approximately 495 crore shares of the PSU according to the December quarter shareholding pattern.
So, the interim dividend of Rs 18.75 apiece would be translating to a payout of around Rs 9,200 crore to the government.
Coal India would be paying around Rs 11,500 crore as the total interim dividend payout.
