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

Mumbai Police Investigate New Death Threat Against Salman Khan Linked To Gangster Lawrence Bishnoi

Mumbai Police is investigating a threatening message directed at actor Salman Khan, allegedly originating from…

20 mins ago

Uttar Pradesh Government To Tighten Control Over DGP Appointment Before By-Elections

Ahead of the by-elections, CM Yogi Adityanath's government in Uttar Pradesh will take greater control…

46 mins ago

Somy Ali Opens Up About Her Past With Salman Khan, Says “Being Known As His Ex Is A Curse”

Somy Ali, the former Bollywood actress and dedicated social worker, has shared her feelings about…

1 hour ago

External Affairs Minister S Jaishankar Raises Alarm Over Attack On Hindu Temple In Canada

External Affairs Minister S Jaishankar expressed grave concerns regarding the recent violent incident at a…

2 hours ago

Indian Market Open Flat Amid US Election Focus, Select Sectors Show Early Gains

The Sensex slipped slightly by 68.22 points, or 0.09%, to trade at 78,714.02, while the…

2 hours ago

Delhi’s Air Quality Deteriorates; Smog Blankets National Capital

Delhi's air quality continues to deteriorate, with the Air Quality Index (AQI) hovering in the…

2 hours ago