The government will receive Rs 1,426 crore as dividend from Coal India Limited (CIL) after the dry fuel miner on Monday announced an additional final dividend of 35 per cent or Rs 3.5 per share on equity shares of Rs 10 each, an official said.
The total dividend payout for FY’21 stood at Rs 16 per share or 160 per cent.
The government is the largest shareholder with control of 66.1 per cent in the CIL. Its shareholding in the company has reduced from 71 per cent due to continuous dilution in small tranches since March 2019.
However, the CIL’s generous dividend policy and high capital expenditure led to a sharp drop in the free cash position of the worlds largest miner, the official said.
