Coal India shares climb to 52-week high as stock trades ex-dividend today
Premium- Dividend paying stock: Board of directors of Coal India Limited has fixed 12th August 2022 as record date for dividend payment
One of the dividend paying stocks in 2022, Coal India share price today climbed to its 52-week high in early morning deals. The PSU stock today opened with an upside gap and went on to hit intraday high of ₹226.80 on NSE, which is its new 52-week high now. In May 2022, Coal India Limited (CIL) board had announced ₹3 final dividend for the financial year 2021-22 and 12th August 2022 was fixed as record date for dividend payment. Hence, the dividend paying stock is trading ex-dividend today.
In May 2022, CIL had informed Indian stock market exchanges about the dividend payment citing, "The Board of Directors in its meeting held on date had recommended payment of Final Dividend for the financial year 2021-22 @ 30/- per share of the face value of ₹10/- as recommended by the Audit Committee of CIL in its meeting held on date subject to approval of the Members at the ensuing Annual General Meeting ("AGM") of the Company."
On record date for final dividend payment, CIL exchange filing says, "The Company has fixed Tuesday, August 23,2022 as the "Cut-off Date" for the purpose of determining the Members eligible to vote on the resolutions set out in the Notice of the AGM or to attend the AGM."
Coal India share price history
Coal India shares have been in uptrend after ushering in 2022. In last one month, it has risen from around ₹193 to ₹220 apiece levels today, logging near 13 per cent rise in this period. Likewise, in last six months, this state-owned share has risen from around ₹165 to ₹320 apiece levels, clocking more than 30 per cent rise in this period. Similarly, in year-to-date (YTD) time, Coal India share price has delivered more than 40 per cent return to its shareholders.
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On Wednesday, Coal India reported its Q1 results for the financial year 2022-23 in which it reported huge jump in its net profit in year-on-year basis. The PSU company reported bumper 178 per cent jump in net profit to ₹8,834.22 crore in Q1 FY23 against ₹3,174.15 crore in Q1FY22. Company's raw coal production in this period also shot up from 123.98 million tonnes in Q1FY 2021-22 to 159.75 million tonnes in recently ended June 2022 quarter.
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