Tuesday, June 18, 2024

Vedanta to consider 5th interim dividend for FY23 on 28 March, fixes record date

Vedanta will consider the fifth interim dividend for FY23 fiscal on March 28. A board of directors meeting is scheduled on this day. The company has fixed the record date to determine eligible shareholders. Vedanta has a good track record of paying dividends to its investors.

In its regulatory filing, Vedanta said, ” the Board of Directors of the Company (the “Board”) is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23.”

It added that the “record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Friday, April 7, 2023.”

That means, those investors whose names appear in the registrar of the company by end of business hours on April 7th will be eligible to receive the 5th interim dividend.

For the current fiscal year, Vedanta has paid a hefty dividend on four occasions. The first interim dividend was 31.50 per share aggregating to 3150% in May last year, while the second interim dividend was 19.50 per share which is 1950% in July, and the third interim dividend stood at 17.50 per share (1750%) in November of 2022.

Vedanta’s fourth dividend was 12.50 per share (1250%) in February 2023.

In FY22 alone, Vedanta paid an equity dividend of a whopping 4500% aggregating to 45 per share.

As per the latest Axis Securities report, Vedanta topped the charts in large-cap space with the highest dividend yield of 28.6%. In the last 12 months, the company paid 81 per share as a dividend benefit.

On BSE, Vedanta stock finished at 271.35 apiece down by 4.87%.

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