Decision of Vedanta’s Fifth Interim Dividend To Take Place On March 28

Vedanta Dividend 2023: Anil Agarwal-led mining major Vedanta Ltd has been in focus ever since its latest announcement. The company is considering its fifth interim dividend on equity shares for the fiscal year 2022-23. While interacting with the stock exchanges on Thursday, Vedanta said that its board have scheduled to meet on March 28, 2023, in order to “consider and approve” the dividend.  As a result, the shares of the company spiked on Friday.

Furthermore, “the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Friday, April 7, 2023,” the statement added. According to the insider trading rules, the trading window for dealing with securities of Vedanta will be closed for designated persons along with their immediate relatives from March 24 to March 30. Meanwhile, the shareholders of Vedanta will be qualified for the payment of the fifth interim dividend if their names are on the company’s register by the close of business on April 7.

As for the dividend record of the company, Vedanta has a reputation for paying dividends to its shareholders.

Summary of Vedanta’s Interim Dividend for the current Fiscal Year

 

The mining company announced the first interim dividend of Rs 31.50 per share for this fiscal year during the month of April.

The company announced its second interim dividend in July, which was for Rs 19.50 per share.

Its third interim dividend was announced for Rs 17.50 per share in November.

Vedanta’s fourth interim dividend was for Rs 12.5 per share which was announced in the month of February.

On Thursday, Bloomberg reported that Anil Agarwal, a mining tycoon, is considering selling his stakes in Vedanta and exploring the prospect of doing so for less than 5% of the company. However, the representatives of the company discarded the report by saying that it is baseless and untrue.