Vedanta dividend

Billionaire Anil Agarwal-led Vedanta Ltd on May 22 said that its board has approved the first interim dividend for the financial year 2023-2024 of Rs 18.50 per share. "...The Board of Directors of the Company through resolution passed by circulation on Monday, May 22, 2023 have approved First Interim Dividend of Rs 18.50 per equity share i.e. 1850% on face value of rupee 1 per share for the Financial Year 2023-24 amounting to Rs 6,877 crore," Vedanta said in a regulatory filing. The record date for the purpose of payment of dividend is Tuesday, May 30, 2023, the mining and metals company further stated. Ahead of the announcement, shares of Vedanta closed 1.90 percent to hit the day's high of Rs 287.35 apiece on May 22 on the BSE. On April 6, the Mumbai-based company made an announcement regarding an interim dividend of Rs 20.50 per share, resulting in a total dividend payout of Rs 101.50 per share for FY23. Meanwhile, Vedanta Resources' Ltd (VRL), the UK-based parent of Vedanta Ltd, is reportedly in talks with Deutsche Bank and other global lenders, including JPMorgan and Barclays, to raise a $500-600 million loan after delays in securing funds from Farallon Capital Management to meet its obligations later this month. The company aims to borrow the money via its Zinc International unit. A $500-million repayment is due on a 7. 125 percent bond that matures on May 31. Vedanta posted a 68 percent drop in Q4FY23 net profit, weighed down by a “one-time charge" in its oil and ga...

Ex-dividend date is one working day prior to the record date. All the shareholders whose names appear in the company’s books of record by the end of the record date will be eligible to receive dividends. Here is the list of stocks that will turn ex-dividend today: Diamines & Chemicals Ltd: Shares of Diamines & Chemicals Ltd will trade ex-dividend today. The company has declared a final dividend of ₹3 per share. Jindal Saw Ltd: The Jindal group company, Jindal Saw will also trade ex-dividend today. It had declared a final dividend of ₹3 per equity share. LKP Finance Ltd: The company has declared a final dividend of Re 1. It will trade ex-dividend today. LKP Securities Ltd: LKP Securities will also turn ex-dividend on June 13. The company declared a final dividend of ₹0.1 per share. Also Read: Day trading guide for stock market today: Buy or sell, dividend stocks to F&O ban list. Key details here

Brokerage firm JP Morgan has downgraded Vedanta Ltd to neutral from overweight and cut its target price to Rs 280 a share from Rs 350 a share. The brokerage firm said that the fiscal 2024 will be a challenging year for Vedanta if LME Zinc and Aluminum prices do not recover. It expects dividend payout to remain elevated. In a recent news report, it was indicated that Chairman Anil Agarwal was contemplating to sell a minority stake in the company. However, the firm promptly denied these claims. According to several media reports, Agarwal was supposedly exploring the sale of less than 5 percent of the company's shares, with the intention of reducing the substantial debt burden of his commodities business empire. As of March, Vedanta Resources Limited (VRL) held a majority stake of 68.11 percent in Vedanta, which slightly fell to 65.18 percent by May. Vedanta Resources has paid all its maturing loans and bonds scheduled for payment in May and June. As a result, the company's gross debt fell to $6.4 billion from $6.8 billion in April 2023, $7.8 billion in March 2023, and $9.7 billion in March 2022, according to a news report. On May 30, Vedanta Resources Limited announced that it had pledged 4.4 percent of its total holding in Vedanta Ltd as collateral in exchange for a $250-million loan from its rival, Glencore. This transaction was a result of a loan agreement signed between VRL and Glencore on May 25.

As per Vedanta's filing on NSE, the company said, "In continuation to our Letter No. VEDL/Sec./SE/23-24/30 dated May 17, 2023 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Monday, May 22, 2023 have approved First Interim Dividend of ₹ 18.50 per equity share i.e. 1850% on face value of Re. 1/- per share for the Financial Year 2023-24 amounting to c. Rs 6,877 Crores." Looking at the dividend history, in 2022, Vedanta distributed dividends of Rs 17.50 per share in November, Rs 19.50 per share in July, and Rs 31.50 per share in May. In 2021, the company paid Rs 13.50 per share in December and Rs 18.50 per share in September. These dividends reflect the company's commitment to providing returns to its shareholders.

Vedanta has declared its fifth interim dividend of Rs 20.50 per share, totalling Rs 7,621 crore, taking its FY23 dividend tally to Rs 101.50 per share for the financial year. The ex-date for the same is set at April 6; the record date for determining eligible shareholders is April 7 and the actual dividend will be paid to eligible shareholders on April 27. Promoters held 69.69 per cent stake in Vedanta as of December 31. They would be entitled to Rs 5,311 crore in the fifth dividend. On Wednesday, shares of Vedanta rose 1.3 per cent to Rs 277.85 level on BSE. Excluding the just announced dividend, Vedanta's dividend yield stands at 29.15 per cent. Its dividend yield stood 11.15 per cent in FY22, 4.15 per cent in FY21, 6.02 The Anil Agarwal-led company has announced a whopping Rs 37,733 crore in total dividend in FY23, which is against Rs 16,689 crore dividend payments (Rs 45 per share) in FY22, Rs 3,519 crore (Rs 9.50 per share) in FY21 and Rs 1,444 crore (Rs 3.90 per share) dividend payout in FY20. Before Tuesday's dividend announcement, the Vedanta board approved fourth dividend of Rs 12.50 per equity share, amounting to Rs 4,647 crore in January. It announced its third interim dividend of Rs 17.50 per share in November, amounting to Rs 6,505 crore. Its second interim dividend came in July 2022 when the mining giant announced a dividend of Rs 19.50 per share, amounting to Rs 7,250 crore. Vedanta's first interim dividend for FY23 came in April 2022 when it announced a pay...

BENGALURU, March 28 (Reuters) - Vedanta Ltd The Indian natural resources company declared interim dividend of 20.50 rupees per share. The move comes days after a report said Chairman Anil Agarwal was weighing selling less than 5% stake in Vedanta. The company called the report "untrue and baseless". The dividend payments would lead to an outflow of around 76.21 billion rupees ($927.81 million), the company said in an exchange filing. The company also said acting Chief Financial Officer Ajay Goel would resign effective April 9 to pursue other opportunities. Vedanta had previously declared interim dividends per share of 31.50 rupees, 19.50 rupees, 17.50 rupees and 12.50 rupees this fiscal year. Earlier this month, ratings agency Moody's downgraded Vedanta's London-based parent, warning that ongoing debt related issues expose Vedanta Resources "to material refinancing risks and exacerbate likelihood of a payment default or a distressed exchange." There have been no defaults on debts from the group, Agarwal, Indian billionaire and founder of Vedanta Resources, said at the India Today Conclave earlier this month. Shares of Vedanta gained 2.2% so far this month, but have lost about 10% year-to-date. ($1 = 82.1400 Indian rupees) About Reuters • About Reuters , opens new tab • Careers , opens new tab • Reuters News Agency , opens new tab • Brand Attribution Guidelines , opens new tab • Reuters Leadership , opens new tab • Reuters Fact Check , opens new tab • Reuters Diversity Repo...