Vedanta Shares Trade Ex-Dividend as Company Declares Second Interim Dividend of Rs 11 Per Share

27 Dec 2023 , 02:52 AM

On December 27, Vedanta, the mining major led by billionaire Anil Agarwal, commenced trading ex-dividend following the announcement of its second interim dividend for the financial year 2023–24. The company’s board declared a substantial dividend of Rs 11 per equity share, representing an impressive 1,100% payout on the face value of Re 1 per share. This generous dividend payout amounts to Rs 4,089 crore and reflects the company’s commitment to rewarding its shareholders.

Vedanta has assured its shareholders that the interim dividend will be disbursed within the stipulated timelines as prescribed by law, as stated in the company’s official communication. Over the past 12 months, the Mumbai-headquartered company has consistently declared equity dividends, totaling Rs 51.5 per share, according to reports.

In a recent development, Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta, received a Goods and Services Tax (GST) demand notice amounting to Rs 84,70,09,977 for the financial year 2017-18. The demand notice is attributed to various interpretational issues. However, Vedanta and BALCO have clarified in their filing that this notice is not expected to have any material financial impact on the companies.

For feedback and suggestions, write to us at [e-mail]