Vedanta announces third dividend of Rs 17.50 per share

Vedanta has announced a third interim dividend of Rs 17.50 per equity share for the current financial year, amounting to Rs 6,505 crore

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Vedanta announces third dividend of Rs 17.50 per share

New Delhi: Mining giant Vedanta on November 21 announced the third interim dividend of Rs 17.50 per equity share for the current financial year, amounting to Rs 6,505 crore. Vedanta’s gross debt stood at Rs 58,597 crore as on September 30. “The board of directors of the company through resolution passed by circulation on Tuesday, November 22 have approved third interim dividend of Rs 17.50 per equity share on face value of Re 1 per share for the financial Year 2022-23 amounting to Rs 6,505 crore,” Vedanta said in a filing to BSE. The record date for the purpose of payment of dividend is November 30, the company said, adding that the interim dividend will be paid within stipulated timelines as prescribed under law. Vedanta had earlier approved first interim dividend of Rs 31.5 and second interim dividend of Rs 19.50 per equity share.

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Vedanta approved interim dividend of Rs 11,710 crore on Apr 28

On April 28, Vedanta Ltd announced that its board of directors approved an interim dividend of Rs 11,710 crore (USD 1.56 billion), of which USD 1.02 billion will be received by its holding company Vedanta Resources Limited (VRL). VRL owns 69.7 percent of Vedanta Ltd.

Moody’s Investors Service had earlier said a large dividend from its cash-rich India operating arm has boosted billionaire Anil Agarwal-led Vedanta Resources Ltd’s efforts to refinance debt.

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