Coal India shares plunge nearly 7 per cent on ex-dividend

By: | Updated: March 14, 2016 3:58 PM

In the past one year, the share price of Coal India slid 13.61 per cent to Rs 319.05 till March 11, whereas BSE Sensex plunged 13.75 per cent during the same period.

Coal India shares, sensexCoal India slid over 8 per cent intraday on Monday after the stocks were quoted ex-dividend for Rs 27.40 per share.(Photo: Reuters)

Coal India share price tanked over 8 per cent intraday on Monday on account of selling by investors as the stock went ex-dividend today. Ex-dividend date is the date on or after which a stock is traded without a previously declared dividend.

Later, the share price of the company settled 6.96 per cent down at Rs 296.85.

The board of directors of Coal India at its meeting held on March 5 had declared interim dividend at the rate of Rs 27.40 per equity share on the face value of Rs 10 each for the financial year 2015-16.

The largest beneficiary will be the central government, which holds 79.64 per cent stake in Coal India and will get a dividend of Rs 17,308 crore.

For the quarter ended December 2015, the company registered a consolidated net profit of Rs 3,718.24 crore, up 13.97 per cent, against Rs 3,262.49 crore in the corresponding quarter last year.

In the past one year, the share price of Coal India slid 13.61 per cent to Rs 319.05 till March 11, whereas BSE Sensex plunged 13.75 per cent during the same period.

 

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