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Coal India Board contemplates a second interim dividend for FY21

On Tuesday, State-run Coal India confirmed the company’s decision to consider a second interim dividend for FY21.

This will take place in a board of directors meeting scheduled on March 05, 2021.

On February 24, the share prices of the company rose over 4 percent in the morning session.

At 09:38 hours, BSE recorded the stock trading at Rs 142.80, up Rs 5.90, or 4.31 percent.

The stock successfully hit an intraday high of Rs 142.95 with an intraday low of Rs 139.60 respectively.

Moreover, Coal India closed at Rs136.90 per piece up 0.6% on Sensex.

The ‘Trading Window’ of the company to remain closed from 27thFebruary, 2021.

It will reopen after the end of 48 hours post the Board of Directors’ decision viz 10th March, 2021.

The Company has fixed Tuesday, 16th March, 2021 as the ‘Record Date’.

This is to ensure payment of 2nd Interim Dividend on Equity Shares for Financial Year 2020-21 declared by the Board.

During October-December quarter, CIL recorded a 22% decline in consolidated net profit at Rs 2,884.4 crore.

However, the total income rose to Rs 21,531.2 crore compared to Rs 20,928.4 crore last year in the same period.

Further, Brokerage firm Geojit assigned a buy rating on the stock with a target of Rs 155 per share.

The business has the potential to strengthen it’s performance in the short to medium-term.

This is because the demand from power plants will scale up once their inventory levels deplete.

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