Coal India Dividend 2024: State-owned coal mining company Coal India is amongst one of the highest dividend yield stocks, meaning it pays the biggest cash rewards to its shareholders in relation to its share price. The PSU stock bagged the top spot in Religare’s top 10 dividend-paying companies for June 2024.
While the company is set to declare its quarterly earnings for the first quarter of the financial year 2025, it announced the January-March 2024 earnings in May and also recommended a final dividend for FY24, after two interim dividend already declared in the fiscal.
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Coal India Dividend 2024
The state-owned company’s board, which met on 2 May in Kolkata, recommended a final dividend of Rs 5 per share for the financial year ended March 2024 subject to the nod from the shareholders at the ensuing company’s annual general meeting. This was in addition to two interim dividends worth Rs 20.50 per share CIL had already paid earlier in the fiscal.
Thus, the total dividend for the fiscal climbs to Rs 25.50 per share which is 255 per cent of face value of a single share.
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Coal India Dividend 2024 Record Date
PSU Coal India is yet to fix the record date to determine who will be eligible to receive the Rs 5 final dividend per share for FY24. Record date is crucial in identifying the shareholders who will be paid the cash reward announced by a company.
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Coal India Dividend History
For the year ending March 2024, the PSU has declared an equity dividend of 255 per cent, which translates to Rs 25.5 per share. At the current share price of Rs 496.20 this results in a dividend yield of 5.14 per cent. For the fiscal 2023, it had declared a dividend of Rs 24.25 apiece.
Coal India Share Price History
Shares of the PSU currently trade around Rs 500 levels and settled at Rs 496.10 on BSE on Friday. The BSE 100 constituent has a market cap of Rs 3,05,732.95 crore. According to BSE analytics, Coal India stock has delivered 111 per cent return in the last one year and zoomed 156 per cent in two years.
