Coal India Shares In Focus As Stock Trades Ex-Dividend Today

Coal India shares remained on investors' radar on Monday as the state-owned mining company traded ex-dividend today. The company's board of directors had declared the first interim dividend for the current financial year at Rs 15.25 per equity share with a face value of Rs 10 (152.5%). The dividend is expected to be paid to Coal India shareholders on December 9.

When it comes to Coal India's intraday share price, at one point in today's early morning trade Coal India shares tumbled almost over 3% however the stock rebounded later as it was up 0.11% at Rs 333.20 per share at 12:18 pm IST. One should note that the price adjusted for dividend is Rs 332.5, from which, the current price of Rs 333.20 is higher by 0.21%.

For the year ended March 2023, Coal India declared an equity dividend of 242.50%, amounting to Rs 24.25 per share.

Ex-dividend usually denotes a stock that trades without carrying the value of the next dividend payment. The ex-dividend date is the day the stock begins trading and the value of its next dividend payment.

Usually, the ex-dividend date for a stock is one business day prior to the record date, indicating that an investor who purchases the stock on its ex-dividend date or afterward will not be entitled to receive the declared dividend.

Coal India posted a 12.5% growth in consolidated net profit at Rs 6,800 crore for the quarter ended September 30, 2023.

This profit growth was driven by higher sales and larger profit contributions from CIL's joint ventures (JV).

Other than Coal India, other scrips that are trading ex-dividend today include Oil & Natural Gas Corporation (ONGC), EID Parry (India), Gujarat Pipavav Port, National Peroxide, RMC Switchgears, EPL, Gillette India, Senco Gold, Sun TV Network, Talbros Engineering, and Tide Water Oil.