State-run Coal India Ltd will consider interim dividend on March 6, the world’s largest coal producer said on Wednesday, sending its stock up by 2.5%.
Coal India Ltd informed BSE that a meeting of board of directors of the company will be held on March 6, 2017, to consider payment of interim dividend, if any, for the year 2016-17.
To comply with the rules of Securities and Exchange Board of India (SEBI), the company’s trading window will remain closed for 48 hours from February 27, it said.
Coal India shares were up as much as 2.5% to touch Rs 328 a piece in a firm Mumbai market whose benchmark Sensex was up as much as 0.7% to touch 5-month high of 28,963.52 in intraday trade.
During October-December quarter, CIL posted a 22% decline in consolidated net profit at Rs 2,884.4 crore even though total income rose to Rs 21,531.2 crore from Rs 20,928.4 crore in the year-ago period.