State-run Coal India (CIL) could deliver its highest-ever dividend per share (DPS) payout of Rs 30 for FY2024, Nuvama said in a note as it raised its interim DPS estimates from an earlier Rs 20, which will translate into an annualised dividend yield of 21%.
The payout is expected to be in H2 of FY2024, the domestic brokerage said, noting that the state miner will likely generate a free cash flow of Rs 22,000/Rs 19,500 in FY24E/FY25E which could allow the company to do so in a pre-election year.
