Vedanta Declares First Interim Dividend for FY 2023-24
Interim Dividend Approval
On Monday, Vedanta’s board approved the company’s first interim dividend for the financial year 2023-24. The dividend has been set at Rs 18 per equity share, which amounts to Rs 6,877 crore ($931 million approx.). With a face value of Rs 1 per share, this represents a 1850% dividend on the face value.
Record Date and Payment
Vedanta has fixed the record date as May 30 to determine the entitlement of the equity shareholders for this dividend. As per the company’s statement, the interim dividend will be paid within the timelines prescribed under the law.
Ex-Dividend Trading
The shares of Vedanta will trade ex-dividend either on the day of or a day before the record date. On an ex-dividend date, the stock does not carry the value of the upcoming dividend payment. This date also determines which shareholders are eligible to receive the dividend payment.
Previous Dividends
Vedanta has declared an equity dividend of Rs 70 per share in the past 12 months, yielding a high 24.35% dividend return. The Mumbai-based company announced five dividends for the fiscal year 2023, culminating in a total payout of over Rs 101.50 per share for the year.
News Summary:
- Vedanta’s board approved an interim dividend of Rs 18 per share for FY 2023-24, totalling Rs 6,877 crore.
- The record date for determining eligible shareholders is May 30.
- Vedanta’s shares will trade ex-dividend on or before the record date.
- The company has declared dividends totalling Rs 70 per share in the past year, leading to a 24.35% dividend yield.
- Over FY 2023, Vedanta announced five dividends, leading to a total payout of over Rs 101.50 per share.
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