Vedanta announces fifth interim dividend of ₹20.50 per share, record date fixed

Mining mogul Anil Agarwal's Vedanta Ltd on Tuesday declared its fifth interim dividend of ₹20.50 per equity share or 2050 per cent for financial year 2022-23, amounting to ₹7,621 crore. The company has fixed 7 April, 2023, as the dividend record date.

“Approved the fifth interim dividend of ₹20.50 per equity share i.e., 2050 per cent on face value of ₹1/‐ per share for the financial year 2022‐23 amounting to ₹7,621 crores,” the company said in a regulatory filing.

The interim dividend will be paid within stipulated timelines as prescribed under law, the exchange filing further noted.

This is in addition to ₹81 per share in dividends the Anil Agarwal's company announced for FY23 so far.

Vedanta acting CFO Ajay Goel resigns

The company said that Ajay Goel has resigned from the post of Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective 9 April, 2023.

"The Company and Board placed on record its appreciation for the commitment and contribution made by him during his tenure and wish him very best for his future endeavours," the statement said.

Vedanta will announce the details of the successor in due course and the same shall accordingly be intimated to the stock Exchanges, the statement noted.

Dividends that Vedanta announced in FY23 so far

Anil Agarwal-led firm had announced its last dividend during third quarter results in January. Its board had approved a fourth interim dividend of ₹12.50 per equity share, amounting to ₹4,647 crore.

Vedanta had announced its third interim dividend of ₹17.50 per share in November 2022, amounting to ₹6,505 crore. Its second interim dividend came in July last year when the firm announced a dividend of ₹19.50 per share, amounting to ₹7,250 crore.

Prior to that, the company had announced its first interim dividend of ₹31.50 per share in April 2022, amounting to ₹11,710 crore. The total dividends it paid in FY23 so far amounted to ₹30,112 crore.

The share price of Vedanta closed 1.01 per cent up at ₹275.50 apiece on Tuesday.