The government will receive around Rs 3,667 crore as an interim dividend from Coal India for the current 2021-22 fiscal, a company official said on Monday. The Maharatna PSU announced a 90 per cent interim dividend for FY22, and the total outgo for the purpose will be around Rs 5,546 crore, he said.
In a regulatory filing, the miner said the board in its meeting held on Monday, approved payment of interim dividend for FY22 at Rs 9 per share of the face value of Rs 10 as against Rs 7.5 per share announced last year. The government holds a 66.13 per cent stake in Coal India.
“The total interim dividend outgo will be around Rs 5,546 crore and the government will get 66 per cent of it as per its holding, and the rest will go to other categories of investors,” Coal India Director (Finance) Samiran Dutta told PTI.
The coal behemoth had given a total dividend at Rs 16 per share in FY21. Sources in the miner said it will try to maintain at least the last year’s dividend payout.