Centre to receive Rs 3,056 crore dividend from Coal India: Official

Topics Coal India | dividend

Announcement of dividend payment came at a time when the miner's outstanding dues from the power sector remain at about Rs 23,000 crore

The Centre will receive an

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

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

"The government will get around Rs 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 Rs 7.50 per share of the face value of Rs 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 Rs 23,000 crore.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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