Vedanta announces interim dividend: Key things to know

02 Sep , 2021 By : Kanchan Joshi

Vedanta Ltd on Wednesday said its board has approved an interim dividend of Rs18.50 per equity share for FY2021-22, amounting to Rs6,877 crore. The shares of the company on the BSE were trading over 3% higher in Thursday's early deals.

"The board of directors of the company in its meeting held on Wednesday...have approved first interim dividend of Rs18.50 per equity share i.e. 1850% on face value of Re 1 per share for the financial year 2021-22 amounting to Rs6,877 crore," Vedanta Ltd said in a filing to BSE.

The record date for the purpose of payment of dividend September 9. The interim dividend will be paid within stipulated timelines as prescribed under law, the mining giant said. This is the company's first interim dividend for 2021-22.

Last week, Vedanta had informed that its board will meet on September 1 to consider and approve the first interim dividend on equity shares, if any, for the financial year 2021-22.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. The Anil Agarwal-led firm is a leading producer of Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Aluminium & Power.

Shares of Vedanta has rallied nearly 140% in the past year whereas it has surged 92% this year (year-to-date or YTD) alone.

Last month, Vedanta group firm Hindustan Zinc Ltd (HZL) had said its board meeting to consider interim dividend for the current financial year, FY22, was deferred, however, the company said that that there is no change to its dividend policy and it will adhere to it.