Coal India Limited on Thursday
announced an interim dividend of Rs 12 per share making the government richer by a total Rs 7,172 crore, which it will receive as dividend and dividend distribution tax.
The total interim dividend outgo for Coal India will be Rs 7,395 crore after the company board approved the interim dividend.
"The government will get Rs 4,890 crore as an interim dividend for their 69.05 per cent shareholding. The total dividend distribution tax outgo will be Rs 2,282 crore," a Coal India official told PTI.
It has been a ritual for Coal India to announce high interim dividend for the past few years which in turn lends some support to the government managing its finances.
The stock closed at Rs 155.25, losing 7.75 per cent at BSE.
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