Vedanta Announced Dividend
Billionaire Anil Agarwal’s company Vedanta Announced Dividend on 22 May. The company board has approved the first interim dividend of Rs 18.50 per share for the financial year 2023-24. This means that a dividend of 1850 per cent i.e. Rs 18.50 will be given for the financial year 2023-24 in exchange for a share with a face value of Re 1.
The company will distribute Rs 6,877 crore to the shareholders as dividend. In a notice issued by the board, it has been said that the date for payment of dividend has been recorded on Tuesday, May 30, 2023. On Monday, shares of Vedanta Company closed at Rs 287.35, a day’s high of 1.90 per cent on the BSE.
How many dividends will be released in FY 2023
The company said that the interim dividend will be paid within the purview of the law. On April 6, the Mumbai-based company announced an interim dividend. The company had announced the issue of dividend at Rs 20.05 per share. For the financial year 2023, the company had paid a total of Rs 101.50 per share.
What is X Davidend
Vedanta shares will trade on ex-dividend a day before the record date. Ex-dividend means that from that day the shares of the company start trading without dividend profit. This means that those who buy its shares on this day will not get the benefit of dividend. If someone wants to take advantage of the dividend, then at least a day before its shares have to be bought.
How much is the company’s debt
Significantly, Vedanta Resources Limited (VRL), UK-based Vedanta Limited is in talks with Deutsche Bank and other global lenders JP Morgan and Barclay for a loan of $ 500 to 600 million. Vedanta had suffered a loss of 68 per cent in the fourth quarter of FY2023. There was also a big decline in the profits of the company. The total debt of the company is around Rs 44,500 crore.
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