Economy

Vedanta’s Interim Dividend Announced

Vedanta Ltd., a leading global oil, gas, and metals company, has approved an interim dividend of USD 1.56 billion, with 1.02 billion to be received by its holding company, Vedanta Resources Limited.

The metals-to-oil conglomerate reported a 60.8% drop in quarterly profit for the quarter ended September due to cooling global commodity prices and a surge in fuel and power expenses.

The company’s consolidated net profit fell to Rs 1,808 crore from Rs 4,615 crore a year earlier, while revenue increased 20% year on year to Rs 36,237 crore.

Vedanta Resources Ltd. has announced the third interim dividend of Rs 17.50 per equity share for the financial year 2022–23, amounting to Rs 6,505 crore.

The record date for payment of the dividend is November 30, and the interim dividend will be paid within the prescribed timelines as prescribed under law.

A dividend is the distribution of surplus from a listed company’s profits to its shareholders.

Vedanta Resources Ltd. is now focusing on completing the expansion of Electrosteel Ltd. to three million metric tonnes from 1.5 million metric tonnes.

Spriha Rai

Recent Posts

Pahalgam Terror Attack: Global Leaders Condemn Attack; Stands With India In Solidarity

Gideon Saar, the Foreign Minister of Israel, condemned the terrorist attack on tourists in Pahalgam,…

5 hours ago

Amit Shah Visits Srinagar For High-Level Security Review Following Terror Attack In Pahalgam

Union Home Minister Amit Shah arrived in Srinagar on Tuesday to conduct a high-level security…

5 hours ago

President Droupadi Murmu Condemns Pahalgam Terror Attack; Extends Condolences

President Droupadi Murmu expressed her 'heartfelt' condolences to the families affected by the terrorist attack…

6 hours ago

Dr Rajeshwar Singh Calls For Mandatory Environmental Education On World Earth Day

Sarojini Nagar MLA Dr Rajeshwar Singh voiced serious concerns about the escalating environmental crisis on…

6 hours ago

PM Modi Condemns Pahalgam Terror Attack; Vows Justice For Victims

PM Narendra Modi on Tuesday strongly condemned the terrorist attack in Pahalgam, Jammu and Kashmir,…

7 hours ago

Pahalgam Terror Attack: PM Modi Speaks To Amit Shah; Orders Swift Action

PM Narendra Modi on Tuesday directed Union HM Amit Shah to take all necessary measures…

8 hours ago