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Coal India interim dividend to fetch around INR 8,044 crores

Coal News - Published on Tue, 13 Mar 2018

Image Source: twimg.com
First Post reported that Centre is expected to get around INR 8,044 crore on account of dividend from Coal India as the miner's board approved payment of interim dividend for the financial year 2017-18 at a rate of INR 16.50 per share. The miner's total payout on account of this would be to the tune INR 10,242 crore.

The miner said in a regulatory filing that "The Board of Directors of CIL in its meeting on Saturday, 10 March, 2018 had approved payment of Interim Dividend for the financial year 2017-18 at the rate INR 16.50 per share of the face value of INR 10 as recommended by the Audit Committee of CIL in its meeting held on date."

The government holds 78.55 % of share in the company and the rest is public shareholding.

In addition to dividend amount, the Central government is also expected to get around INR 2,085 crore on account of tax.

Source :

Posted By : Nanda Koijam on Tue, 13 Mar 2018
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