Vedanta in its board meeting held today has approved of a hefty dividend again after the previous dividend of Rs. 31.5 per share.
The filing by the company said, “we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, July 19, 2022 have approved Second Interim Dividend of ₹ 19.50 per equity share i.e. 1950% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹ 7,250 crores. The record date for the purpose of payment of dividend is Wednesday, July 27, 2022. The interim dividend will be paid within stipulated timelines as prescribed under law”.
Typically more mature companies dole out dividend and it is generally the profit sharing that they do with the company’s shareholders.
The company’s financials are constantly improving with net income for the Fy 22 placed at Rs 17245 crore as against a loss of Rs. 6732 in fy20. Also, the company is on a debt reducing spree.
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Story first published: Tuesday, July 19, 2022, 16:38 [IST]