Coal India advanced 2.04% to Rs 295.80 at 09:22 IST on BSE, after the company's board of directors approved payment of interim dividend of Rs 29 per share for the financial year ending March 2014.
Meanwhile, the S&P BSE Sensex was up 118.13 points or 0.56% at 21,156.36
On BSE, so far 6.91 lakh shares were traded in the counter as against average daily volume of 2.74 lakh shares in the past one quarter.
The stock hit a high of Rs 304.95 and a low of Rs 295 so far during the day. The stock had hit a record low of Rs 238.35 on 30 August 2013. The stock had hit a 52-week high of Rs 362.15 on 14 January 2013.
The stock had outperformed the market over the past one month till 14 January 2014, advancing 2.24% compared with the Sensex's 1.53% rise. The scrip had, however, underperformed the market in past one quarter, rising 1.67% as against Sensex's 2.06% rise.
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The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
Coal India after market hours on Tuesday, 14 January 2014 said that its board of directors has approved payment of interim dividend of Rs 29 per share for the financial year ending March 2014. The date of payment of interim dividend 'is on and from 25 January 2014', Coal India said. The stock offers a dividend yield of 9.8% based on the current share price of Rs 295.80. Coal India has fixed 20 January 2014 as the record date for the purpose of payment of interim divided.
Coal India's consolidated net profit declined 0.8% to Rs 3052.36 crore on 5.8% growth in net sales to Rs 15411.49 crore in Q2 September 2013 over Q2 September 2012.
Coal India is the largest coal producer in the world.
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