Dividend paying stock: Coal India dividend declared in FY24 beats PPF, bank FD, SSY returns

Dividend-paying stock: Coal India shares are one of the dividend-paying stocks in the Indian stock market. The dividend declared by this PSU stock in FY24 is ₹24.50 ( ₹4, ₹15.25, and ₹5.25). Coal India share price finished on 31st March 2023 at ₹213.65 apiece on the NSE. This means, in FY24, dividend-paying stock Coal India shares declared dividends to the tune of 11.50 percent, outperforming the Public Provident Fund or PPF interest rate, Sukanya Samriddhi Yojana (SSY) interest rate, and bank FD returns during the recently ended financial year 2023-24.

Coal India dividend history

As per the information available on the official BSE website — bseindia.com, Coal India shares traded ex-dividend on 18th August 2023 for payment of ₹4 per share dividend to its eligible shareholders. Later, on 21st November 2023, Coal India shares once again traded ex-dividend to ascertain the list of eligible shareholders for the payment of ₹15.25 per share interim dividend payable in the financial year 2023-24. On 20th February 2024, Coal India shares traded ex-dividend for the last time in FY24 for the payment of ₹5.25 per share interim dividend. So, the total dividend declared by Coal India Ltd in FY24 is ₹24.50 ( ₹4 + ₹15.25 + ₹5.25) per share in the entire FY24.

Coal India dividend yield

As Coal India shares ended at ₹213.65 on 31st March 2023, Coal India dividend yield in financial 2024 is 11.50 percent [{( ₹4 + ₹15.25 + ₹5.25)/213.65} x 100].

Trumps PPF, SSY, bank FD returns

In FY24, the Public Provident Fund (PPF) interest rate remained at 7.10 percent, the SSY interest rate was at 8.20 percent whereas the bank FD returns given by frontline Indian banks remained at six to six and a half percent. This means the respective returns given by government-backed small saving schemes and bank fixed deposits were much below the Coal Indiadividend yield in FY24.

Coal India share price history

In FY24, Coal India share price ascended from 213.65 to ₹434.10 apiece, delivering an annual yield of over 100 percent in the financial year 2023-24.

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