Vedanta Declares 4th Interim Dividend of 1,250%: Highest Yield Among Peers

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Vedanta Declares 4th Interim Dividend of 1,250%: Highest Yield Among Peers
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The mining major Vedanta (NS: VDAN ) has announced a fourth interim dividend of 1,250% for the ongoing financial year while releasing its earnings result for the December 2022 quarter on Friday.

The company’s Board of Directors declared a fourth interim dividend of Rs 12.5/share on the face value of Re 1 each for FY23, amounting to a total of Rs 4,647 crore.

The record date for the payment of the dividend is fixed as Saturday, February 4, 2023. With this, the total dividend given out by the company in FY23 has shot up to Rs 81/share, including the 4th interim dividend.

Vedanta’s dividend yield stands highest compared to its peers, the company said on Friday. The fourth interim dividend will be paid within the stipulated timelines as prescribed under law, it added.

The company consolidated PAT rose 15% QoQ to Rs 3,092 crore in the December ending quarter but declined over 42% on a YoY basis.

In November 2022, the Anil Agarwal-led mining company announced a third interim dividend of 1,750% or Rs 17.5/share on the face value of Re 1 each for FY23 through a resolution passed by circulation.

The interim dividend amounted to Rs 6,505 crore.

Read Also: Vedanta Declares 3rd Interim Dividend for FY23: Amount & Record Date

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