Coal India board approves second interim dividend. Details here
- The state-owned company has fixed March 16 as 'Record Date' for the purpose of payment of second interim dividend on equity shares for 2020-21
Coal India on Friday said that its board approved payment of second interim dividend of ₹5 per share for 2020-21. The state-owned company has fixed March 16 as 'Record Date' for the purpose of payment of second interim dividend on equity shares for 2020-21, Coal India said in the regulatory filing.
"The board of Directors in its meeting held on Friday, the 5th March' 2021 approved payment of 2nd Interim Dividend for financial year 2020-21 @ ₹5 per share of the face value of ₹10 per equity share," the filing said. The date of payment of interim dividend is on and from 24 March, it said.
MORE FROM THIS SECTIONSee All
Coal India Ltd accounts for over 80% of domestic coal production. It is eyeing one billion tonne of coal output by 2023-24.
Coal India is facing a tough time but it is working to match at least last year's total dividend payout, which was ₹12 per share, sources earlier told PTI. "We will try to support our best in these trying times for the government," a source said.This will be the final dividend for the year, the source said.
The miner has also revised its capex plans to ₹13,000 crore from ₹10,000 crore after the government asked it to push expenditure to spur demand in the post-lockdown period.
However, the outstanding continued to mount and reached ₹25,000-crore-level even as the government announced ₹90,000 crore liquidity infusion to support the gencos.
Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.