Coal India Shares Dip 4% as Company Goes Ex-Dividend; Declares Rs 15.25 Interim Dividend

21 Nov 2023 , 12:55 PM

Coal India shares decline by 4% in early trade on November 21 as the company trades ex-dividend. Board declares first interim dividend for the current fiscal year at Rs 15.25 per equity share (152.5%), with payment scheduled for December 9. At the time of writing, Coal India was trading at Rs 333.85 which is a 4% dip than the previous day’s close.

Coal India declares an equity dividend of 242.50% (Rs 24.25 per share) for the year ended March 2023. Ex-dividend trading reflects a decrease in share price by the dividend amount as new shareholders are not entitled to the payment. 

Consolidated net profit for the quarter ended September 30, 2023, rises 12.5% to Rs 6,800 crore. Higher sales and increased profit contribution from joint ventures contribute to the profit growth.

Other stocks trading ex-dividend from November 21 include ONGC, EID Parry, EPL, Gillette India, Gujarat Pipavav Port, National Peroxide, RMC Switchgears, Senco Gold, Sun TV Network, Talbros Engineering, and Tide Water Oil.

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