Coal India trades ex-interim dividend; stock down 2%

Coal India (CIL) was trading 2.4% lower at Rs 291 on BSE as the stock is trading ex-interim dividend for Rs 1.15 per share.

The board of directors of CIL in its meeting on March 26, 2017 approved payment of second interim dividend for the financial year 2016-17 at Rs 1.15 per share of the face value of Rs 10.

“The company has fixed Wednesday, the March 29, 2017 as the ‘record date’ for the purpose of payment of second interim dividend,” CIL said in a regulatory filing.

The date of payment of second interim dividend is ‘on and from March 31, 2017’, it added.

Earlier, this month, CIL had paid first interim dividend of Rs 18.75 per share to the equity shareholders.

Thus far in calendar year 2017, CIL has underperformed the market by gaining 3.5% (adjusted to interim dividend) as compared to 10% rise in the S&P BSE Sensex.

At 09:37 am; the stock was the largest loser among the S&P BSE Sensex and Nifty 50 index. A combined 860,998 shares changed hands on the counter on BSE and NSE so far.

Coal India Ltd