Coal India Ltd last dividend to complement govt by Rs 1,426 crore

Coal India Ltd last dividend to complement govt by Rs 1,426 crore

The federal government will obtain Rs

1,426 crore as dividend from Coal India Restricted (CIL) after the dry gas miner on Monday introduced an extra last dividend of 35 per cent or Rs 3.5 per share on fairness shares of Rs 10 every, an official stated.

The full dividend payout for FY’21 stood at Rs 16 per share or 160 per cent.

The federal government is the biggest shareholder with management of 66.1 per cent within the CIL. Its shareholding within the firm has lowered from 71 per cent resulting from steady dilution in small tranches since March 2019.

Nonetheless, the CIL’s beneficiant dividend coverage and excessive capital expenditure led to a pointy drop within the free money place of the worlds largest miner, the official stated.

Coal India’s free money stability (money, equal and financial institution balances) dropped to Rs 17,309 crore in FY21 from round Rs 28,000 crore in 2019-20 as its money circulation era couldn’t match the outflow resulting from decrease gross sales pattern final yr owing to slowdown and Covid-19 pandemic associated disruptions.

E-auction sale for the quarter was 28.92 million tonne that realized Rs 1752 per tonne towards Gas Provide Settlement (FSA) that fetched Rs 1391 a tonne. It offered whole uncooked coal of 165 million tonne in the course of the quarter.

The CIL on Monday reported Rs 4,588.96 crore consolidated internet revenue (earlier than different complete earnings) for the fourth quarter ended March 2021, a marginal decline over the corresponding quarter revenue of FY’20 of Rs 4,625.76 crore.

(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)

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