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’s Street MBA: How A Bag Hustle Became A ₹8 Lakh Business

A Mumbai auto driver earns up to ₹8 lakh per month by offering a simple…

53 mins ago

Five Districts In Manipur Face Internet Shutdown Following Unrest

Manipur suspended internet in five districts for five days after protests over arrest of a…

2 hours ago

Shashi Tharoor Criticises Pakistan: “In Pakistan You Get Rewarded For Promoting Terrorism”

Shashi Tharoor condemns Pakistan’s treatment of Dr Shakil Afridi, who helped the US locate Osama…

2 hours ago

How To Read Food Labels & Make Smarter Grocery Choices

Reading food labels helps you make informed, healthier choices by understanding nutrition facts & picking…

2 hours ago

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

15 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

15 hours ago