Vedanta to Consider 5th Interim Dividend, Whopping 30% Dividend Yield

  • Investing.com
  • Stock Market News
Vedanta to Consider 5th Interim Dividend, Whopping 30% Dividend Yield
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The mining major Vedanta (NS: VDAN ) will convene a board meeting in the week starting March 27, 2023, to consider another interim dividend for the financial year 2022-23.

The mega-cap company has announced that its Board of Directors will meet on Tuesday, March 28, 2023, for consideration and approval of the fifth interim dividend on equity shares for FY23.

If this interim dividend is given a green signal by the company’s Board, the record date for the said corporate dividend has been fixed as Friday, April 7. This means that shareholders of Vedanta whose names appear on the company’s registrar as on April 7, will be able to receive the interim dividend benefit.

So far in FY23, Vedanta has paid out a total interim dividend of Rs 81/share, excluding the 5th interim dividend benefit.

The mining major’s current stock price is Rs 269.75/share, and at this price, Vedanta’s dividend yield stands at a whopping 30.02%.

The Anil Agarwal-led mining major’s consolidated PAT rose 15% QoQ to Rs 3,092 crore in the December ending quarter but declined over 42% on a YoY basis.

Its EBITDA tanked 35% YoY and 12% QoQ to Rs 7,100 crore in Q3, led by lower output commodity prices and lower strategic hedging gains, while the EBITDA margin fell sharply to 24% from 37% YoY in the period.

Read Also: Vedanta’s Q3 PAT Tanks 42%, EBITDA Margin Slips Sharply

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search
  • Vikram Wagh @Vikram Wagh
    Vedanta hi bhagwaan hai
    Like 29

Related Articles