255% Dividend: Largecap Mining PSU Company Coal India Announces Dates For Q2 Results, Interim Dividend

India's largest coal producer, Coal India Ltd (CIL), is gearing up to release its financial results for the second quarter of FY2024-25. The Maharatna Public Sector Undertaking (PSU) has confirmed the date for its much-anticipated results, and it could come with some added cheer for shareholders-a potential interim dividend declaration for the financial year 2024-25.

Date and Time for Coal India's Q2 Results

In an official exchange filing on October 14, 2024, Coal India announced that its Board of Directors will meet on Friday, October 25, 2024, to approve the unaudited financial results, both standalone and consolidated, for the quarter ending September 30, 2024. The results are expected to be published post-market hours, after being reviewed by the company's Audit Committee.

The exchange filing mentioned:

"...notice is hereby given that a meeting of the Board of Directors of the company will be held on Friday, the 25th Oct'24 inter-alia to consider, approve, and take on record the Un-Audited Financial Results of the Company (Standalone & Consolidated) for the 2nd quarter ended 30th Sep' 2024 after the results are reviewed by the Audit Committee of the Board."

Interim Dividend Announcement and Record Date

Apart from the financial results, investors are watching for the declaration of the first interim dividend for FY2024-25. According to the company's exchange report, the Board of Directors will consider the dividend on the same day, October 25. Should the interim dividend be declared, the record date for determining the shareholders eligible for the dividend is fixed for November 5, 2024. This means that investors holding Coal India shares by this date will qualify for the dividend payment.

The company noted in its filing, "...the Board of Directors of the company may also, inter alia, consider and declare the 1st Interim Dividend for FY 2024-25, if any. The Company has fixed Tuesday, 5th Nov'24 as the 'Record Date' for the purpose of payment of the 1st Interim Dividend on Equity Shares for Financial Year 2024-25, if declared by the Board."

In the run-up to the results announcement, Coal India's stock saw fluctuations in trading. At 10:25 am on October 17, Coal India's shares were trading with a slight dip of nearly 1% at Rs 492.85 on the National Stock Exchange (NSE).

Coal India has been a reliable performer for long-term investors, despite short-term fluctuations. According to BSE data, the stock has declined 0.69% over the past three months, gained 9.67% in the last six months, and soared 29.52% year-to-date.

For those with a longer investment horizon, Coal India's shares have delivered significant returns over the years. A 60.66% increase in the past 1 year, 109.27% gain over 2 years, 169.12% rise over 3 years, 158.49% jump over 5 years, and a more moderate 43.65% rise over the past 10 years. Coal India's market capitalization currently stands at a substantial Rs 3,04,746.92 crore, making it a heavyweight on the BSE 100.

In line with SEBI regulations, Coal India has imposed a trading window closure for all directors, officers, and employees involved in handling the company's financials. The trading window has been closed since October 1, 2024, and will remain closed until October 28, 2024, to prevent any insider trading ahead of the Q2 earnings announcement and possible dividend declaration.