Coal mining company Coal India Limited can give dividend to its investors. Sources indicated that the final part of the dividend could be Rs 2-2.5 per share.
Coal India dividend.
Today Coal India will announce its result for the March quarter. According to the information received from the sources, additional dividend can also be announced.
Coal India Limited (CIL), the world’s largest coal mining company, may finally announce an additional dividend of 20 to 15 percent for its shareholders in the board meeting to be held on June 14.
In this meeting, the company will also announce the results of the fourth quarter of Finance 2020-21.
Although CIL failed to meet the targeted production and offtake targets for FY21, it has exceeded the revised capital expenditure target of Rs 13,000 crore.
coal india q4 results 2021.
Sources told, “The board will try to declare a part of the dividend more. less than the two interim dividends declared earlier. The company had declared two interim dividends of Rs 7.5 and Rs 5 per share of Rs 10 each.
Sources indicated that the final part of the dividend could be Rs 2-2.5 per share. In this way the total dividend can be up to less than Rs 15 per share.
The government will benefit the most from this because its shareholding in the company is 66.13 percent.
At the same, analysts estimate that the fourth quarter results of Coal India may remain weak, but the stock market participants remained bullish and the stock rose 6.24 per cent during the week.
Coal india share dividend.
On achieving the target of capital expenditure, sources said, “Initially the target was ten thousand crores but due to the covid 19 epidemic, the economy was put under pressure and the government asked to raise funds to support the economy.
We have increased the capital expenditure target to Rs 13,000 crore and have already exceeded it.
The capital expenditure of Coal India stood at Rs 13,115 crore in FY 2020-21, which is 109 percent higher than Rs 6,270 crore in the previous financial year.
Edelweiss Securities has advised Coal India investors to stay in it. It estimates that its stock can reach the level of Rs 186.
Motilal Oswal has estimated its share to reach Rs 180. According to Reliance Securities, this share can reach up to Rs 185.