Vedanta to Pay 2,050% 5th Interim Dividend, Acting CFO Resigns

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Vedanta to Pay 2,050% 5th Interim Dividend, Acting CFO Resigns
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The mining major Vedanta (NS: VDAN ) has announced details of its fifth interim dividend of a massive 2,050% for the financial year 2022‐23.

In its latest Board meeting held on Tuesday, the Board of Directors of Vedanta approved the fifth interim dividend of Rs 20.5/share on the face value of Re 1 each, translating to a whopping 2,050% for FY23 and aggregating to a total dividend amount of Rs 7,621 crore.

So far in the current financial year, Vedanta has declared a total interim dividend of Rs 81/share, excluding the 5th one. With the most recent (fifth) dividend, the company's total outgo will be Rs 101.5/share.

The mining major’s Board has fixed the record date for the corporate dividend as Friday, April 7, 2023.

The mega-cap company has also informed that Ajay Goel will resign from the post of Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective from the close of business hours on April 9, for pursuing a career outside the Vedanta Group.

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