Shareholders of Vedanta may soon receive positive news as the company is preparing to announce its fifth interim dividend for the fiscal year 2022-2023. The company, led by billionaire Anil Agarwal, recently revealed that its board will convene this week to assess and authorize the dividend payment.Vedanta Dividend Record Date,Vedanta’s Dividend Payout,Latest Update,
According to a statement released on Thursday, March 23, by the Vedanta Group, a board of directors meeting is planned for Tuesday, March 28, 2023, to deliberate on and authorize the potential issuance of a fifth interim dividend on equity shares for the 2022-23 financial year.
Vedanta Dividend Record Date
The record date is crucial in identifying the shareholders who are entitled to receive the dividend payout. To be eligible to receive a company’s dividend amount, a shareholder must possess the stock on the record date. Vedanta has announced that April 7 has been set as the record date for determining the entitlement of equity shareholders to receive the proposed dividend, if authorized.
Vedanta Dividend History
Vedanta has already disclosed a cumulative dividend of Rs 81 per share for the ongoing fiscal year. In April 2022, the company announced an interim dividend of Rs 31.50 per share, followed by Rs 19.5 in July 2022, Rs 17.50 in November 2022, and Rs 12.5 in January 2023.Vedanta Dividend History,Latest Update
Vedanta’s Dividend Payout
The declaration of a fourth interim dividend of Rs 26 by Hindustan Zinc, a subsidiary of Vedanta, may affect the dividend payout that Vedanta makes to its shareholders. This recent announcement from Hindustan Zinc was made on March 21.
If Vedanta decides to pass on this dividend in full, it will be able to offer a minimum dividend of Rs 19 per share. However, the dividend amount could have been higher if the sale of Zinc International had not encountered a setback. Vedanta had intended to sell its Zinc International business for roughly Rs 24,000 crore, but this plan was met with opposition from the government.