Coal India pays second and final Installment of Dividend to Government

Coal India Limited (CIL) has paid Rs.699.72 crore as second and final installment of Dividend to Government of India on 27 March, 2007.

Earlier on 12 March 2007, CIL had paid an interim dividend of Rs.800.28 crore, thus making it a total of Rs.1500 crore paid to Government of India as dividend in the fiscal 2006-07. This would constitute 23.75% of the paid up equity of Rs.6,316 crore. Last year CIL paid Rs.1263 crore as dividend which was 20% of the equity.

Meanwhile, CIL and four of its profit making subsidiary companies namely, Mahanadi Coalfields Limited, Sambalpur; Northern Coalfields Limited, Singruali; South Eastern Coalfields Limited, Bilaspur and Western Coalfields Limited, Nagpur have been conferred 'MINI RATNA' status. This was after CIL and the companies met the eligibility and classification conditions as laid down by Department of Public Enterprises (DPE).

The newly accorded status provides more financial and operational autonomy to these companies.

Source : Press Information Bureau

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