Vedanta on Tuesday declared a fifth interim dividend of Rs 20.50 per share, amounting to Rs 7,621 crore. With this, the Anil Agarwal-led mining giant has announced total dividend of Rs 101.50 per share for FY23 so far. The dividend payments for FY23 stood at Rs 37,733 crore.
Promoters held 69.69 per cent stake in Vedanta as of December 31. They would be entitled to Rs 5,311 crore in the fifth dividend. The record date for the same is Friday, April 7, Vedanta said.
Vedanta also announced the resignation by acting Chief Financial Officer (CFO) Ajay Goel effective from close of business hours on April 9. Goel will pursue career outside of the group.
“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 company will announce the details of the successor in due course and the same shall accordingly be intimated to the stock exchanges,” Vedanta said.
Vedanta dividend
Before this, Vedanta had announced an interim dividend of Rs 12.50 per equity share, amounting to Rs 4,647 crore. It announced its third interim dividend of Rs 17.50 per share in November, amounting to Rs 6,505 crore. Its second interim dividend came in July 2022 when the Anil Agarwal company announced a dividend of Rs 19.50 per share, amounting to Rs 7,250 crore.
Before that, Vedanta announced its first interim dividend of Rs 31.50 per share in April, amounting to Rs 11,710 crore. The four dividends that Vedanta paid earlier totalled Rs 81 per share and amounted to Rs 30,112 crore.
The dividend yield for Vedanta at Tuesday’s closing price of Rs 274.70 stood at 29.54 per cent. Vedanta announced dividends of Rs 45 per share for FY22, Rs 9.50 per share for FY21 and Rs 3.90 per share in FY20.
The mining giant had cash and cash equivalents of Rs 23,474 crore and gross debt of Rs 61,550 crore on a consolidated basis, as on December 31, as per the recent quarterly results.
Recently, Hindustan Zinc announced its fourth interim dividend for FY23. The Anil Agarwal-led company announced a dividend of Rs 26 per share, amounting to Rs 10,986 crore. The dividend announced by the world’s second-largest integrated zinc producer and sixth-largest silver producer globally will help Vedanta earn Rs 7,132 crore in dividend payout on 2,74,31,54,310 shares it held in the company as of December-end.
Vedanta held 64.92 per cent stake in Hindustan Zinc as of December 31.