BackDividend paying stock: Coal India's record date for final dividend this week. Details here
Coal India's board had recommended payment of final dividend for the financial year 2021-22 at 3 per share
PremiumCoal India Ltd's (CIL) board of directors in May this year had recommended payment of final dividend for the financial year 2021-22 at 3 per share of the face value of ₹10/- as recommended by the Audit Committee of the coal mining company.
The company has fixed Friday, August 12,2022 as the "Record Date" for the Purpose of determining the Members eligible to receive Final Dividend for the Financial Year 2021-22. The stock will trade ex-dividend on Thursday, August 11, a day ahead of the record date. The company said that the dividend, if approved at the annual general meeting (AGM) will be paid on and from September 7, 2022.
The company also informed that it 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 reported an 11% increase in its coal production for July at 47.3 million tonne as compared to producing 42.6 million tonne coal during the same month last year. The state-run company, in a statement, said it maintained the double-digit growth for the fourth month in a row this fiscal, despite the monsoon slowing down its production.
Meanwhile, the state-owned miner's capital expenditure (capex) 65% jumped to ₹3,034 crore during the April-June quarter. This was the ninth consecutive month of capex growth, the company had said in a statement.
Coal India is responsible for 75% of all coal-based energy production and 85% of all domestic coal output. Additionally, it contributes to the generation of 55% of the nation's total power and fulfills 40% of the primary commercial energy needs of the country.
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