Vedanta to pay ₹5,019 crore in dividends after solid earnings
Premium- The mining company has approved an interim dividend of ₹13.50 a share, totalling ₹5,019 crore, the company said in a filing to the BSE on Saturday
PremiumListen to this article |
Billionaire Anil Agarwal-led Vedanta will reward shareholders with a dividend payout for the second time this year after reporting back-to-back bumper profits in the past year.
The mining company has approved an interim dividend of ₹13.50 a share, totalling ₹5,019 crore, the company said in a filing to the BSE on Saturday. This comes after its cash-rich unit Hindustan Zinc Ltd announced a payout of $1 billion earlier this week.
Hindustan Zinc on 7 December said its board has approved an interim dividend of ₹18 per equity share for 2021-22, amounting to ₹7,605.57 crore.
London-based parent Vedanta Resources Ltd will be the biggest beneficiary of the payout and the cash will aid in repaying some of its debt obligations. In September, the Mumbai-based commodities major had announced a first interim dividend of 68.77 billion rupees.
Vedanta’s profit in the three months through September surged over fivefold as base metal prices rallied on strong demand fired up by global stimulus.
Shares of the Vedanta NSE 0.36 % Ltd. traded at ₹350.1 on BSE at 12:18 pm (IST) on Friday, up 0.46% from previous close. The stock quoted a 52-week low price of ₹130.0 and a high of ₹385.75.
MINT PREMIUM
See All
The stock of Vedanta Ltd commands a market value of ₹130250.57 crore.
