Vedanta declares 1st interim dividend of Rs 18.50 per share - check payment date here

A metal company Vedanta on Wednesday declared its first interim dividend of Rs 18.5 per share, the index heavyweight said in a regulatory filing after an approval of board of directors.

The company in its filing to exchanges said, “The Board of Directors of the company in its meeting held on September 01, 2021 have approved First Interim Dividend of Rs 18.50 per equity share on face value of Re. 1/- per share for the Financial Year 2021-22 amounting to Rs 6,877 crores.”

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“The record date for the purpose of payment of dividend is Thursday, September 9, 2021 and the interim dividend will be paid within stipulated timelines as prescribed under law,” it further said.

On Sunday, Vedanta in a filing had said that “The board of directors of the company on Wednesday, September 1, 2021, will consider and approve the First Interim Dividend on equity shares, if any, for the Financial Year 2021-22.”

The company had also informed the exchanges that the trading window shall remain closed for dealing in securities of the company for all designated persons till September 3, 2021.

The shares of metal company have surged around 3 per cent on Monday (September 30, 2021) on the back of the first interim dividend news. The stock in the last one year has gained by over 130 per cent and has soared by around 5 percent in the last five sessions.

Vedanta reported a 12.6 per cent year-on-year (YoY) jump in profit to Rs 3,336 crore, while over 92 per cent surge in revenue to Rs 12,833 crore in the June-ended quarter of the financial year 2021-22.

The stock on Wednesday ended over 1.5 per cent lower to Rs 297.95 per share on the BSE, as compared to 0.37 per cent declined in the S&P BSE Sensex.