Vedanta announces third interim dividend of Rs 17.5 per share, payout to be Rs 6,505 cr

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Vedanta Ltd on Tuesday declared a third interim dividend of Rs 17.5 per share, amounting to Rs 6,505 crore.

“We wish to inform you that the Board of Directors of the Company through a resolution passed by circulation on Tuesday, November 22, 2022 has approved Third Interim Dividend of Rs.17.50 per equity share i.e. face value of Re.1 per share 1750% to an amount of Rs 6,505 crore in the financial year 2022-23,” the mining company said in a stock exchange filing.

The record date for payment of dividend has been fixed as November 30, 2022.

In July, the company declared a second interim dividend of Rs 19.5 per equity share, taking its total payout to Rs 18,960 crore in the two rounds of dividend declared so far in FY23.

In April, the company had declared its first interim dividend at Rs 31 per share, resulting in an outflow of Rs 11,710 crore.

The dividend announcement by Vedanta comes at a time when Vedanta Resources, which holds 69.7 per cent of Vedanta, is looking to reduce its balance sheet.

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