Vedanta plummets ~2% as stock trades ex-dividend

31 May 2023 , 10:09 AM

In Wednesday’s early morning session, shares of Vedanta Limited are trading about 2% lower as the stock traded ex-dividend on May 30, which was the record date for payment of the first interim dividend for FY 23-24.

At around 9.58 AM, Vedanta was trading 1.86% lower at Rs 280.30, against its previous close of Rs 285.60 on NSE. The counter touched an intraday low of Rs 278.50, so far in the day.

The company’s board of directors has already declared a dividend of Rs 18.50 per share to its eligible shareholders.

Vedanta announced its results for Q4FY23 on May 12, and reported a 56.30% y-o-y decline in profit at Rs 2,634 crore as compared to Rs 6,027 crore in the previous corresponding quarter. The company reported a decline of 5.4% in its revenue for the quarter at Rs 37,225 crore as compared to Rs 39,342 crore in the corresponding quarter of the previous year.

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