Vedanta has declared the second interim dividend of Rs 19.5 per share for its shareholders in a board meeting of the company held on Tuesday, July 19.
“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 ₹ 19.50 per equity share i.e. 1950% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹ 7,250 crores,” Vedanta said in a regulatory filing on Tuesday
The board has fixed the record date for the purpose of payment of dividend is Wednesday, July 27, 2022.
The interim dividend will be paid within stipulated timelines as prescribed under law, said the company further.
Meanwhile, shares of Vedanta ended flat with marginal gainof Rs 1.20 per share to Rs 238.60 apiece on the BSE.
A dividend is the reward or a portion of profit given by a company to its shareholders. Dividends are often distributed quarterly and may be paid out as cash or in the form of reinvestment in additional stock.