Centre likely to get Rs. 8,044 crore as dividend from CIL

The central government is expected to get Rs. 8,044 crore as interim dividend from state-owned Coal India Ltd (CIL) for the fiscal year 2017-18. The miner’s board of directors have approved payment of interim dividend for the current fiscal at a rate of Rs. 16.50 per share, it said in an exchange filing. The centre will also garner around Rs. 2,085 crore as dividend tax from the mining major, a senior Coal India official told PTI. The company’s total payout on account of dividend is to the tune of Rs. 10,242 crore. The government currently holds 78.5% in Coal India.