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Coal India approves interim dividend of Rs 9 per share

Coal India approves interim dividend of Rs 9 per share

CIL also stated that the company has fixed 7 December as the "record date" for the purpose of payment of interim dividend. 

Shares of Coal India on Monday ended 0.99% lower at Rs 154.30 apiece on BSE. Shares of Coal India on Monday ended 0.99% lower at Rs 154.30 apiece on BSE.

State-owned Coal India Limited (CIL) on Monday announced that its board has approved interim dividend of Rs 9 per share. 

"The Board of Directors in its meeting held on Monday, the 29th Nov'2021 had approved payment of Interim Dividend for the financial year 2021-22 @ 9/- per share of the face value of Rs 10/- as recommended by the Audit Committee of CIL in its meeting held on date," the company said in a regulatory filing. 

CIL also stated that the company has fixed 7th December as the "Record Date" for the purpose of payment of Interim Dividend on equity shares for the Financial year 2021-22. The date of payment of "Interim Dividend" is "on and from 21" Dec' 2021," it added. 

Shares of Coal India on Monday ended 0.99% lower at Rs 154.30 apiece on BSE.

Earlier, the dispatch of coal to the power sector CIL rose 22.7 per cent to 291.72 million tonne (MT) in the first seven months of the ongoing fiscal year. CIL had dispatched 237.75 MT of coal to the power sector in April-October period of 2020-21, according to monthly summary for the Cabinet for October.

The supply of coal to the power sector by CIL during the last month also increased 21.7 per cent to 47.67 MT, over 39.17 MT in the year-ago period, it said.

Coal India accounts for over 80 per cent of the domestic coal output.

The company, which is eyeing one billion tonne of fuel output by 2023-24, will pump over Rs 1.22 lakh crore in projects related to coal evacuation, exploration and clean coal technologies by 2023-24.

Out of this proposed spend, CIL has planned to invest Rs 32,696 crore on coal evacuation, Rs 25,117 crore on mine infrastructure and Rs 29,461 crore on project development by 2023-24.

The company will also invest Rs 32,199 crore on diversification and clean coal technologies, Rs 1,495 crore on social infrastructure and Rs 1,893 crore on exploration works.

The investment of Rs 1.22 lakh crore will be utilised to fund a total of 500 projects.
 

Published on: Nov 29, 2021, 8:32 PM IST
Posted by: Aparna Banerjea, Nov 29, 2021, 8:29 PM IST