Coal India Limited Board recommends final dividend, here to know

Coal India Limited, India's largest coal producer Public Sector Undertaking, has announced that its board of directors has recommended a final dividend of Rs 5 per share for the financial year 2023-24.

The company disclosed in an exchange filing that the recommendation was made during the board’s recent meeting, and is subject to approval by the members at the forthcoming Annual General Meeting (AGM). The dividend payment is proposed to be made at the rate of 5/- per share of the face value of Rs 10/-, as recommended by the Audit Committee of CIL. 

Read Also : GAIL signs 10 year agreement with ADNOC Gas

The company has not announced the record date and payment date for this corporate action yet. Earlier, the company had announced an interim dividend of Rs 5.25 for which the ex-date was February 20, 2024. Meanwhile, the coal behemoth has reported a 26.2 percent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter.

Read Also : V R Burra assumes Director (Projects) charge of Power Grid

The net profit of Coal India Ltd (CIL) was Rs 6,875.07 crore in the same period last year, according to a regulatory filing. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.

Read Also : CPSE’s exchequer increases more than doubled, from Rs 2.20 lakh crore in FY14 to Rs 4.58 lakh crore in FY23.