A good news could come soon for the shareholders of Vedanta as the company is soon set to declare a fifth interim dividend for the financial year 2022-23. Billionaire Anil Agarwal-led company last week announced that its board will meet this week to consider and approve the fifth interim dividend.
“The meeting of the Board of Directors of the Company is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23,” Vedanta Group said on Thursday, March 23.
The record date determines who will be eligible to receive the dividend. To earn a company’s dividend amount, the shareholder is requires to own the stock as on the record date. Vedanta, for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, has fixed April 7 as the record date.
Vedanta Dividend History
The company has already declared a total dividend of Rs 81 per share for the current financial year. An interim dividend of Rs 12.5 per share was announced by Vedanta in January 2023, Rs 17.50 in November 2022, Rs 19.5 in July 2022 and Rs 31.50 in April 2022.
Vedanta’s Dividend stood at Rs 45 per share for the financial year 2022
Vedanta’s Dividend Payout
The recent interim dividend announcement by Hindustan Zinc, a Vedanta subsidiary, can have an impact on how much Vedanta pays in dividends to its shareholders. Hind Zinc declared its fourth interim dividend of Rs 26 on March 21.
Vedanta, if passes on this dividend fully, can pay a minimum dividend of Rs 19 per share. The dividend could’ve been higher had the sale of Zinc International not hit a roadblock. Vedanta was planning to sell its Zinc International business for around Rs 24,000 crore, which was opposed by the government.
