Coal India Ltd (CIL) confirmed on Thursday that its board had approved the payment of an interim dividend of 97 per cent for the years of 2012-13.

The coal giant announced the decision in a filing with the stock exchanges.  The interim dividend for 2012-13 is slightly more than the previous year's interim dividend of 95 per cent.

The approval for bigger interim divided came in wake of the company's second largest stakeholder the Children's Investment Fund Management's demand for 100 per cent divided payout.

This year's dividend will reportedly involve a payout of around Rs 6,200 crore.

In the first three quarter of current financial year, CIL enjoyed a growth of 10.1 per cent in post tax profit to Rs 11,942 crore; while net revenue jumped 12.6 per cent to Rs 48,398 crore.

The company will finish this financial year with an off-take of nearly 467 million tones, down from its target of 470 million tones.

Meanwhile, the Competition Commission of India (CCI) recently accused CIL misusing its monopoly.  The coal giant's power sector consumers have long been blaming the company of forcing them to enter one-sided fuel supply agreements and, supplying poor-quality coal.