Wednesday, January 15, 2014

Coal India jumps 5% on special dividend of Rs 29/share

Shares of  Coal India jumped over 5 percent, hitting a two-month high in early trade on Wednesday. Investors are euphoric about the company as last evening it declared an interim dividend of Rs 29 per share , amounting to Rs 18,317 crore, for 2013-14. 

The company will pay the dividend from January 25. The government will get Rs 16,485.71 crore for its 90 percent stake in the Maharatna company. 

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