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Vedanta announces third interim dividend of Rs 17.5 per share, payout to be Rs 6,505 cr

Vedanta announces third interim dividend of Rs 17.5 per share, payout to be Rs 6,505 cr

The record date for the payment of dividend has been fixed as November 30

The record date for the payment of dividend has been fixed as November 30 The record date for the payment of dividend has been fixed as November 30

Vedanta Ltd on Tuesday announced third interim dividend of Rs 17.5 per share amounting to Rs 6,505 crore. 

"We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of Rs 17.50 per equity share i.e. 1750% on face value of Re 1 per share for the Financial Year 2022-23 amounting to Rs 6,505 crore," said the mining company in a stock exchange filing.

The record date for the payment of dividend has been fixed as November 30, 2022. 

In July, the company announced a second interim dividend of Rs 19.5 per equity share, taking its total payout in two rounds of dividends announced so far in FY23 to Rs 18,960 crore. 

In April, the company had announced its first interim dividend at Rs 31 per share, resulting in an outflow of Rs 11,710 crore.

The dividend announcements by Vedanta come at a time when Vedanta Resources, which owns 69.7 per cent of Vedanta, has been looking to deleverage its balance sheet.