Vedanta board declares interim dividend of Rs 18 per share for FY24

23 May 2023 , 09:45 AM

Vedanta’s board has accorded approval for the first interim dividend for the fiscal year 2023-24. Shareholders will receive a dividend of Rs 18 per equity share, which is 1850% of the face value of Rs 1 per share. The total dividend payout amounts to Rs 6,877 crore.

The company has fixed May 30 as the record date to determine the entitlement of equity shareholders. It further stated that the interim dividend will be paid within the timeline as prescribed under the law.

On the ex-dividend date, which is either the same day or one day before the record date, Vedanta’s shares will trade without including the value of the upcoming dividend payment. 

Over the course of the previous year, Vedanta has announced a significant equity dividend of Rs 70 per share, leading to an impressive dividend yield of 24.35%.

The Mumbai-based miner has announced a total of five dividends for the fiscal year 2023, resulting in a cumulative payout of more than Rs 101.50 per share throughout the year.

The metals and mining major has reported a 68% decline in profit amid declining metal prices.

At around 9.32 AM, Vedanta is trading 1% higher at Rs 290.60, against the previous close of Rs 287.50 on NSE.

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