23 May 2023, 10:00 am
Vedanta share price rose over 1% on Monday's early trade following the board of directors' approval of the first interim dividend of ₹18 per equity share for the fiscal year 2023–2024. Vedanta shares closed nearly 2% higher at ₹287.50 apiece on NSE.
The dividend, which totals ₹6,877 crore, will be 1850% of the face value of each share of ₹1.The record date for determining the equity stockholders' entitlement has been set as May 30.
The interim dividend will be paid within the stipulated timelines as prescribed under the law, said the company in its statement.
Vedanta stock will begin trading ex-dividend on or before the record date. Vedanta distributed an equity dividend of ₹70 per share during the past 12 months, yielding a staggering 24.35% in dividends.
The company had five dividends in total announced for the fiscal year 2023, bringing the total payout to more than ₹101.50 per share.