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Business News/ Companies / News/  Govt to get 3,056 crore dividend from Coal India
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Govt to get ₹3,056 crore dividend from Coal India

The total interim dividend outgo for Coal India will be ₹4,622 crore after the company's board approved it

Coal India Premium
Coal India

The Centre will receive an amount of 3,056 crore as dividend from Maharatna PSU Coal India Ltd as the miner has announced an interim dividend at a rate of 7.50 per share for the 2020-21 financial year, an official said.

The total interim dividend outgo for Coal India will be 4,622 crore after the company's board approved it, he said.

"The government will get around 3,056 crore as a dividend for its shareholding of 66.13 per cent in the company," the official said.

In a regulatory filing, the miner said its board of directors has approved payment of an interim dividend of 7.50 per share of the face value of 10 for 2020-21.

The company sources said the announcement of dividend payment came at a time when the miner's outstanding dues from the power sector remain at about 23,000 crore.

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This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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Updated: 11 Nov 2020, 10:15 PM IST
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