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Vedanta to pay dividend of Rs 19.50/share, exit at Rs 7,250 Crore

Billionaire Anil Agarwal, led by Vedanta Ltd, on July 19 announced the second interim dividend of Rs 19.50 per share after the board meeting.

The company said the dividend payout will result in an outflow of Rs 7,250 crore. The record date for the dividend payment will be July 27 and the dividend will be paid within the stipulated time, Vedanta said.

A dividend is generally a part of the profit that the company shares with its shareholders. Dividends can be paid in cash, stock, or any other form a company chooses. Dividends are often distributed quarterly.

In April 2022, Vedanta had approved an interim dividend of Rs 11,710 crore ($1.56 billion), of which $1.02 billion will be received by its holding company Vedanta Resources Ltd (VRL). VRL owns 69.7% of Vedanta Ltd.

In fiscal 2022, Vedanta, which accounts for nearly all of VRL’s revenue, generated operating EBITDA of $6 billion, up 66% from $3.6 billion in fiscal year previous.

Vedanta, a subsidiary of VRL, is one of the world’s leading diversified natural resource companies with business operations in India, South Africa, Namibia and Australia. Vedanta is a major producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminum and electricity.

(Edited by : Shoma Bhattacharjee)

First post: STI

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