Coal India ex-dividend date, record date 2022, payment date, history, Coal India Share Price NSE: Coal India has announced to give dividends to its shareholders. The government-owned company has announced to pay a whopping150 per cent dividend per share of face value Rs 10 each. According to a corporate filing by the miner, this will be the first interim dividend for the financial year 2022-23. Coal India is a Maharatna status company. The PSU has high dividend yields.

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Coal India Dividend 2022

 

Coal India in the exchange filing said that it will pay 150 per cent dividend per equity share. This translates into Rs 15. It means that Coal India shareholders will get Rs 15 dividend for every share held. For exam, an investor has 100 shares of Coal India in his Demat account on the record date, the company will pay him Rs 1500 dividend.

The state-owned company has also announced the record date for the payment of the dividend amount. A record date is nothing but a specific date that helps a company to determine the eligibility of shareholders for receiving the benefits of corporate actions like dividend, bonus, split and more.

According to Coal India's filing, the company's board of directors has fixed the record date to decide who all will receive the dividend.

Coal India dividend record date is November 16, Wednesday, according to the filing.

"The company has fixed Wednesday, 16th Nov’ 2022 as the “Record Date” for the purpose of declaration of 1st Interim Dividend on equity shares for the Financial year 2022-23," the company said in filing.

 

Coal India Ex Dividend Date 2022

 

Coal India shares will trade ex-dividend date before the record date. Usually, a stock trade ex-date a business or trading session before the record date. An ex-date is the day when a stock trades without the benefit of the announced corporate action. If a person buys shares on ex-date, he/she will not be eligible for receiving the benefits of the corporate actions announced by the company. To receive the benefits of corporate actions like dividend, bonus, split or more, one should buy stocks before the ex-date.

Coal India share dividend ex-date would be November 15 which is one business day before the record date.

 

Coal India Dividend Payment Date 2022

 

Coal India has also declared the dividend payment date. The public sector company under Ministry of Coal will pay Rs 15 dividend to its investors by December 6. The dividend amount will be credited directly into the bank accounts linked to Demat account of the shareholders. 

"The date of payment/despatch of “1st Interim Dividend” shall be by 6th December 2022," according to Coal India.

 

Coal India Dividend History, 2021

 

Coal India has high dividend yields. The company is known for paying good dividends to its shareholders. Coal India's dividend yield is more than 9 per cent per annum. 

In 2022 so far, Coal India paid dividend on two occasions. While the company paid Rs 3dividend in August, it had paid Rs 5 in February, In 2022, the company paid Rs 17.50 dividend per share on three occasions.

 

Coal India Share Price NSE Target 

 

Coal India stock has been among the top performers recently. It has delivered a positive return of more than 8 per cent in the past one month while 50 per cent in 6 months. In 2022 so far, Coal India stocks have yielded a whopping 63 per cent returns to its investors. The stock's 52-week range is Rs 263.40 - Rs 139.15.

Coal India in the second quarter (July-August) of the current fiscal saw its net profit jump 102 per cent to Rs 6,044 crore against Rs 2,933 crore during the same period year ago. Its revenue increased 28 per cent year-on-year (YoY) to Rs 29,838 crore. In the April to September quarter, the revenue rose by 33 per cent.

The jump in net profit was boosted on the back of increased sales of coal during the peak demand months and a rebound in power demand after the pandemic years. The coal producer also gained immensely from the spike in prices of coal sold through the e-auction route.

Post declaration of the Q2FY23 earnings, brokerages have revised their target on the counter. While CLSA has set a target of Rs 280 apiece, Macquarie has revised its target to Rs 256. 

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