Coal India drops ex-dividend

Coal India lost 4.55% to Rs 305.45 at 9:17 IST on BSE, as the stock turned ex-dividend today, 18 March 2013, for interim dividend of Rs 9.70 per share for the year ending 31 March 2013.

Meanwhile, the S&P BSE Sensex was down 160.41 points or 0.83% at 19,267.15.

On BSE, 22,000 shares were traded in the counter as against average daily volume of 2.50 lakh shares in the past one quarter.

The stock hit a high of Rs 309.95 and a low of Rs 305.10 so far during the day. The stock had hit a 52-week low of Rs 301.20 on 18 May 2012. The stock had hit a 52-week high of Rs 386 on 17 September 2012.

The stock had underperformed the market over the past one month till 15 March 2013, sliding 8.48% compared with the Sensex's 0.21% fall. The scrip had also underperformed the market in past one quarter, declining 9.59% as against Sensex's 0.57% gain.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 3.03% based on the closing price of Rs 320 on Friday, 15 March 2013.

Coal India's consolidated net profit rose 8.9% to Rs 4395.11 crore on 12.9% growth in net sales to Rs 17325.04 crore in Q3 December 2012 over Q3 December 2011.

Coal India is the largest coal producer in the world.

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