Billionaire Anil Agarwal-led Vedanta Ltd’s Board of Directors will expend ₹19.50 per equity announced as second interim dividend for fiscal 2022-23 gets total to ₹7,250 crore, the firm declared in a regulatory filing on Tuesday.
The interim dividend will be expended within stipulated timelines, the firm informed.
“We wish to inform you that the Board of Directors of the firm through resolution enacted by circulation on Tuesday, July 19, 2022 have authorized Second Interim Dividend of ₹19.50 per capital 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 firm announcement said.
The record date for the purpose of expense of dividend is Wednesday, 27 July 2022, the metal and mining company announced.
A dividend implies the distribution of excess from the profits by a listed firm to its shareholders.
Vedanta has been refunding cash to shareholders through interim dividends every quarter, final earnings at the year-end and an occasional special dividend.
Vedanta’s board had declared the first interim dividend of ₹31.5 per equity share i.e. 3,150% of the face value of Re 1 per stake for the financial year 2022-23, which was reimbursed in May this year.
Vedanta Limited is one of the world’s steering oil and gas and metals firm with substantial operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.