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Shares of Coal India surged in Tuesday's opening deals after the miner in a regulatory filing on Monday said that the board in its meeting held approved payment of interim dividend for FY22 at 9 per share of the face value of 10 as against 7.5 per share announced last year.

The PSU company has fixed Tuesday, December 7, 2021 as the record date for the purpose of payment of interim dividend on the equity shares for the financial year 2021-22. Whereas, the date of payment of interim dividend is on and from December 21, 2021, it added.

The government will receive around 3,667 crore as an interim dividend from Coal India for the current 2021-22 fiscal, as reported by PTI. The Maharatna PSU announced a 90% interim dividend for FY22, and the total outgo for the purpose will be around 5,546 crore, the report added. 

“The total interim dividend outgo will be around 5,546 crore and the government will get 66 per cent of it as per its holding, and the rest will go to other categories of investors," Coal India Director (Finance) Samiran Dutta told PTI.

The government holds a 66.13 per cent stake in Coal India. The coal behemoth had given a total dividend at 16 per share in FY21.

State-owned CIL had reported an almost flat consolidated net profit of 2,936.91 for the quarter ended September 30. The company had posted a net profit of 2,948 crore in the corresponding quarter last year. Its consolidated revenue from operations during July-September 2021 increased to 23,291 crore, compared with 21,153 crore in the year-ago period.

(With inputs from PTI)

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