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Vedanta Ltd Declares Fifth Interim Dividend of ₹20.50 per Share for FY 2022-23

INDIA| Mining company Vedanta Ltd, owned by Anil Agarwal, has announced its fifth interim dividend for the financial year 2022-23, amounting to ₹7,621 crore.

According to live mint, the company has declared a dividend of ₹20.50 per equity share or 2050% on the face value of ₹1 per share. The dividend record date is set for 7 April 2023.

The interim dividend will be paid in accordance with the law. This dividend is in addition to the ₹81 per share in dividends already declared for the current financial year.

However, Vedanta also announced that Ajay Goel, the Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has resigned from his position with effect from 9 April 2023. The company will announce his successor’s details shortly.

The company has announced a series of interim dividends this financial year. The fourth interim dividend was ₹12.50 per equity share, amounting to ₹4,647 crore, announced in January during the third quarter results.

The third interim dividend was ₹17.50 per share, amounting to ₹6,505 crore, announced in November 2022. In July 2022, the company announced a second interim dividend of ₹19.50 per share, amounting to ₹7,250 crore. In April 2022, Vedanta announced its first interim dividend of ₹31.50 per share, amounting to ₹11,710 crore.

The total dividends paid in FY23 so far amount to ₹30,112 crore.

As of Tuesday, the share price of Vedanta closed 1.01% higher at ₹275.50 apiece. The company and board have acknowledged Ajay Goel’s contributions and wish him success in his future endeavors.

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