Vedanta shares trade ex-dividend, stock rises

mining giant Vedanta said last week that its board had approved the second interim dividend of 19.50 per equity share for the current financial year. the total payment amount will be 7,250 crores. The record date for payment of dividend is Wednesday, July 27.

“…The Board of Directors of the Company has given the second approval vide resolution passed by circulation on Tuesday, the 19th July, 2022” interim dividend of 19.50 per equity share i.e. 1,950 per cent, at face value of Re 1 per share for the financial year 2022-23, amounting to 7,250 crore,” Vedanta said in a BSE filing.

The Company further added the record date for the purpose of determining the eligibility of equity shareholders for the said dividend, if declared, being fixed as July 27, 2022. Dividend means distribution of surplus by a listed company out of profits to its shareholders.

Vedanta has been returning cash to shareholders through quarterly interim dividend, year-end final dividend and occasional special dividend.

Vedanta Ltd., a subsidiary of Vedanta Resources Ltd., is one of the world’s leading oil and gas and metals company, with a significant presence in oil and gas, zinc, lead, silver, copper, iron ore, steel and aluminum and power across India. operates. South Africa and Namibia.

Mining giant Vedanta Ltd reported 3% growth in its aluminum production to 5,65,000 tonnes in the April-June quarter of the current fiscal. The company produced 5,49,000 tonnes of aluminum in the corresponding quarter of the last financial year. The company’s total production of salable steel declined 7% to 2,69,000 tonnes as compared to 2,89,000 tonnes in the year-ago period.

Shares of Vedanta have lost over 11% in the one-year period, while the metal stock has fallen nearly 31% so far in 2022 (YTD), compared to a 8% fall in the benchmark Sensex.

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