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Vedanta has Announced a Dividend Payment of Rs 19.5 Per Share.

Vedanta: The second interim dividend, which will be paid out at a rate of Rs 19.5 per share, has been accepted by the corporate board, according to metals and mining giant Vedanta NSE 6.05 percent, which made the announcement on Tuesday. The entire payment will be Rs 7,250 crore.


In a filing with the BSE, Vedanta stated, “We wish to inform you that the board of directors of the company through resolution passed by circulation on Tuesday, July 19, 2022 have approved Second Interim Dividend of Rs 19.50 per equity share, which is equivalent to 1950 percent per cent on face value of Re 1/- per share for the financial year 2022-23 amounting to Rs 7,250 crore.”

According to the announcement made by the business backed by Anil Agarwal, the record date for the purpose of determining who is entitled to receive dividends is the 27th of July.

The statement was made after the stock market had closed for the day. The share price increased by 0.5 percent, finishing the day at Rs 238.60 on BSE.

According to the statistics provided by Trendlyne, Vedanta has distributed dividends to its shareholders amounting to a total of Rs 76.50 per share during the course of the previous year.

The last payout, in the amount of Rs 31.50, was announced on May 6 of this year.

However, as compared to its 52-week high of Rs 440.80, the stock has dropped by about 46 percent since then.

The advice to purchase Vedanta shares has been reached by 15 different analysts that cover the company’s stock, and the majority of them have reached this conclusion.

The fact that the average target price is set at 400.90 Indian Rupees indicates that there is potential for an increase in value of more than 70 percent.

The annual report for the firm was made public the week before last, and in it, the business said that it intends to pay out dividends equaling at least thirty percent of the amount of its earnings that may be attributed to it after taxes.

“This will be subjected to the board’s evaluation of various factors, such as robustness of cash flows, economic situation, commodity price cycles, natural calamities, etc. for overall optimal cash management,” Vedanta had said.

“This will be subjected to the evaluation of various factors for overall optimal cash management.”

About Vedanta

Vedanta Limited, headquartered in Mumbai, India, mines iron ore, gold, and aluminium in Goa, Karnataka, Rajasthan, and Odisha.

In 1980s, founder of Vedanta (then Sterlite Industries) created Sterlite Industries Limited and bought mining concessions in many states.

His two sons, Navin and Sunil Agarwal, who both presently lead the business, quickly joined him.

As the primary holding company for its mines, they created Volcan investments in Nassau (Bahamas) in 1992.

In Patna, D.P. Agarwal operated a modest aluminium conductor company. Anil Agarwal, his son, had travelled to Mumbai to help grow the family company.

Sterlite started making offers for ill (underperforming) enterprises when the Indian government started to sell them off in the 1990s.

They won bids for bankrupt, four-year-closed BALCO and Hindustan Zinc Limited.

In the meanwhile, D. P. Agarwal established Twinstar Holdings Limited in Mauritius in January 1993, which was mostly controlled by Volcan investments.

The Enforcement Directorate served Sterlite a show-cause notice on May 26, 2002, regarding the six-year period between 1993 and 1999 when Twinstar purchased Sterlite stock and investment firms including Dwarka Prasad Anil Kumar Investments Private Limited, Pravin Navin Investment & Trading Private Limited, and Sterlite Copper Rolling Mills Private Limited.

These firms had in turn made sizeable investments in Sterlite and another member of the group, Madco, during that (RBI).

Numerous of these investment firms were dissolved on April 29, 1999, returning to Twinstar’s control all of the Sterlite shares.

Twinstar bought these investing businesses’ equity with RBI and FIPB approval (FIPB).

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