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Coal India declares interim dividend of Rs 29/share

As the majority stake holder, the government is likely to get around Rs 16,000 crore

Meeting the street expectaion, Coal India borad today has approved a special dividend for the current financial year, which would fetch Rs 16485.71 crore to government exchequer and help meet its disinvestment target of Rs 40,000 crore. The CIL board, which met here today, approved highest ever interim dividend of Rs 29 per share of face value of Rs 10. “The total out-go from the company would be around Rs18,317.46 crore out of which Government of India who holds 90% of company’s shares would get Rs 16,485.71 crore,” CIL CMD S Narasing Rao told  reporters ...