Earlier this month, Coal India announced a dividend of Rs18.75 a share, which was 32% lower than the previous year’s payout. Photo: BloombergNew Delhi: Coal India Ltd., the world’s biggest miner of the fuel, said it will pay a dividend of Rs1.15 a share, its second payout in less than a month. Earlier this month, Coal India announced a dividend of Rs18.75 a share, which was 32% lower than the previous year’s payout. Coal India earnings have declined because of provisions for a retroactive salary increase for staff. “Also, there seems to be some pressure from the government to pay more.”The federal government owns 79% of Coal India, which has reported a year-over-year decline in earnings in the past three quarters.

Source: Mint March 27, 2017 12:00 UTC