This dividend stock recently became a wealth creator

Coal India has played the role of an anti-hero in the Indian stock market. It is the quintessential dividend stock. Between FY19-23, it has dished out 86 per cent of its profit after tax, on average, as dividends. However, wealth seekers have only had tales of disappointment for the stock. In the last five financial years, the stock gave a measly dividend-adjusted annualised return of 3 per cent. However, the market has recently witnessed a transformation of this anti-hero into a hero of wealth creation. It has nearly doubled in value in the past 12 months, pushing its dividend-adjusted five-year annualised return to 26 per cent. Its financial performance has run in tandem with the soaring share price. In the last 12 months, it has clocked record-high revenue and profit after tax. Turning on the rusty growth enginge Coal India witnessed a significant uptick in production in FY23 TTM FY23 FY22 FY21 FY20 Production (million tonnes)* 532 703 662 574 582 Revenue (Rs crore) 1,31,223 1,38,506 1,09,941 90,233 96,283 PAT (Rs crore) 28,952 28,125 17,378 12,702 16,700