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Vedanta board to consider third interim dividend on November 22

Vedanta board to consider third interim dividend on November 22

Vedanta board to consider third interim dividend on November 22
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By CNBCTV18.com Nov 18, 2022 2:13 PM IST (Published)

The announcement has come a day after Billionaire Anil Agarwal-led Vedanta group firm Hindustan Zinc announced a second dividend of about Rs 6,500 crore for 2022-23.

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Shares of Mining major Vedanta Ltd. rose as much as 3 percent on Friday following the company’s announcement that its board will meet on November 22 to consider and approve the third interim dividend for the current financial year.


The record date for the dividend, if declared, has been set as November 30.

The announcement has come a couple of days after Billionaire Anil Agarwal-led Vedanta group firm Hindustan Zinc announced a second dividend of Rs 15.5 per share, resulting in a total payout of about Rs 6,500 crore. 

The record date for Hindustan Zinc's dividend payout has been set as November 24.

Vedanta, with a total stake of 64.92 percent in the group company, is expected to garner around Rs 4,251.77 crore from the dividend payout.

The company had approved a first interim dividend in May this year which was worth Rs 31.5 per share and another one in July worth Rs 19.5 per share.

The Vedanta Resources subsidiary is one of the leading global players in metal, oil and gas sectors. It is a major producer of zinc, lead, silver, copper, iron ore, steel, aluminium, and power with operations spanning across India, South Africa, and Namibia.

As of September 2022, Vedanta had a total consolidated debt of Rs 59,020 crore.

Shares of Vedanta are trading 1.2 percent higher at Rs 311.

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