Coal India interim dividend makes govt richer by Rs 7,172cr

Kolkata, Mar 12 () Coal India Limited on Thursdayannounced an interim dividend of Rs 12 per share making thegovernment richer by a total Rs 7,172 crore, which it willreceive as dividend and dividend distribution tax.

The total interim dividend outgo for Coal India willbe Rs 7,395 crore after the company board approved the interimdividend.

"The government will get Rs 4,890 crore as an interimdividend for their 69.05 per cent shareholding. The totaldividend distribution tax outgo will be Rs 2,282 crore," aCoal India official told .

It has been a ritual for Coal India to announce highinterim dividend for the past few years which in turn lendssome support to the government managing its finances.

The stock closed at Rs 155.25, losing 7.75 per centat BSE. BSMNN NN