Kolkata, Feb 14 (PTI) Coal India’s second interim dividend will make the government richer by Rs 2037.8 crore as it is holding a 66.1 per cent stake in the Maharatna PSU.
The company on Monday announced a dividend of Rs 5 per share of Rs 10 each and the total payout will be Rs 3087 crore.
In the first interim dividend announced in December, the miner’s total payout was Rs 5546 crore and the government gained Rs 3667 crore.
The dividend was Rs 9 per share.
In 2020-21, the total dividend paid in three instalments was Rs 16 a share.
In all probability, this year’s total dividend will surpass that of the previous year, sources said.
But, one major headwind is the company’s inability to raise coal prices amid strong operational inflationary pressure.
The rising crude will also cause additional pain. In the June quarter, the miner had lost Rs 700 crore due to fuel price rise.
Sources said that after the ongoing assembly elections, an attempt to raise coal prices may be taken up. PTI BSM NN NN
