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Vedanta to pay dividend of Rs 19.50/share, outflow at Rs 7250 cr

business | Jul 19, 2022 5:13 PM IST

Vedanta to pay dividend of Rs 19.50/share, outflow at Rs 7250 cr


The dividend will be paid by July 27. Shares of Vedanta ended at Rs 238.60, up by Rs 1.20, or 0.51 percent, on the BSE.

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Billionaire Anil Agarwal-led Vedanta Ltd on July 19 announced the second interim dividend of Rs 19.50 per equity share following the meeting of the board of directors.

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The company said the dividend payout will lead to an outflow of Rs 7,250 crore. The record date for payment of the dividend will be July 27 and the dividend will be paid within the stipulated timeline, Vedanta said.

A dividend is usually a part of the profit that the company shares with its shareholders. Dividends can be paid in cash, stocks, or any other form that a company chooses. Dividends are often distributed quarterly.

Back in April 2022, Vedanta had approved an interim dividend of Rs 11,710 crore ($1.56 billion) of which $1.02 billion will be received by its holding company Vedanta Resources Ltd (VRL). VRL owns 69.7 percent of Vedanta Ltd.

During fiscal 2022, Vedanta, which accounts for almost the entire earnings generation at VRL, generated operating EBITDA of $6 billion, up 66 percent from $3.6 billion in the previous fiscal year.

Vedanta, a subsidiary of VRL, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a leading producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power.

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