Board Approves 5th Interim Dividend Of Rs 20.50 Per Share; Know Record Date, Other Details

The board of directors of Vedanta at their meeting held today approved the fifth interim dividend of Rs 20.50 per share for FY’23. The record date for the purpose of payment of dividends is Friday, April 07, 2023. The interim dividend will be paid within the stipulated timelines as prescribed under the law, the company said.

“Approved the Fifth Interim Dividend of Rs 20.50 per equity share i.e., 2050% on face value of Rs 1/‐ per share for the financial year 2022‐23 amounting to Rs 7,621 crores. The record date for the purpose of payment of dividend is Friday, April 07, 2023,” the Anil Agarwal-led company said in an exchange filing.

Earlier, the company announced its fourth dividend of Rs 12.50/equity share in January. In the third dividend in November, the company paid Rs 17.50/equity share amounting to Rs 6,505 cr.

The company had announced Rs 31.50/share and Rs 19.50 in its first and second dividends respectively.

The company on Thursday had said its board will next week to consider and approve the fifth interim dividend for FY ’23.

The announcement came days after Vedanta Resources which is a majority shareholder of Vedanta stating that it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position.

In a statement, Vedanta Resources had said it is in the advanced stage of finalisation to tie-up USD 1.75 billion through a combination of syndicate loan and bilateral bank facilities.

Vedanta Resources had said it had pre-paid all of its debt that was due for repayment till March 2023, deleveraging by $2 billion in the past 11 months.

Further, it is confident of meeting its liquidity requirements for the quarter ending June 2023.

Vedanta Resources had recently said that it has fully repaid $250 million in loans it had taken from Barclays Bank and Standard Chartered Bank.

(With agency inputs)

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