Vedanta declares interim dividend

Vedanta declares interim dividend

Shares of Vedant rallied a percent in the morning session on September 2, a day after the company announced interim dividend.
The mining major announced a first interim dividend of Rs 18.50 per share, amounting to Rs 6,877 crore.
The decision was confirmed at the meeting of Board of Directors held on September 1.
The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend “is being fixed as Thursday, September 9, 2021”.
The Vedanta dividend declaration announcement comes following Hindustan Zinc’s announcement on August 17, regarding deferment of decision on likely interim dividend for fiscal FY22.

Since the last couple of years, the company has announced only one dividend for that year. In FY21, the company had declared an interim dividend of Rs 9.50 per share, while in FY20, the company announced an interim dividend of Rs 3.90 per share.
Vedanta, a subsidiary of Vedanta Resources Ltd, holds 64.92% stake in Hindustan Zinc.
Vedanta’s standalone net profit for June quarter stood at Rs 3,336 crore, while the consolidated net profit in the period under review stood at Rs 5,282 crore.
The company is a diversified natural resource company with business operations in India, South Africa, Namibia, and Australia.

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