Vedanta to pay out Rs 7,250 cr, interim dividend at Rs 19.5/share

TeknikalRaman

Examinations

POSTED BY: Ranjeet Kumar PUBLISHED: 19th July, 22

Vedanta, a significant player in the mining and metals industries, paid a second interim dividend on Tuesday,

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bringing its total payout from two rounds of dividend announcements made so far in FY23 to Rs 18,960 crore.

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This is more than its entire dividend payment for FY22, which was Rs 16,740 crore, according to statistics gathered by BS Research Bureau.

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The action by Vedanta comes shortly after its subsidiary, Hindustan Zinc, declared an interim dividend of Rs 21 per share last week.

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Hindustan Zinc has estimated that paying out its dividend will cost Rs 8,873 crore.

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 The Government of India owns 29.5% of Hindustan Zinc, while Vedanta owns 64.9% of the business.

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Vedanta told the stock market on Tuesday that the current dividend distribution round will result in an outflow of Rs 7,250 crore. 

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The business issued its first interim dividend of Rs 31 per share in April, which resulted in a loss of Rs 11,710 crore.

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The Vedanta Resources dividend announcements coincide with the company's efforts to deleverage its balance sheet

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