Vedanta will consider its fifth interim dividend for FY23 on Tuesday. This would be in addition to Rs 81 per share in dividends the Anil Agarwal's firm announced for FY23 so far. The dividend yield for Vedanta at Monday's closing price of Rs 272.70 stood at 29.70.
The mining giant had cash and cash equivalents of Rs 23,474 crore and gross debt of Rs 61,550 crore on a consolidated basis, as on December 31, as per the recent quarterly results.
Vedanta announced its last dividend during third quarter's results. Its board approved fourth interim dividend of Rs 12.50 per equity share, amounting to Rs 4,647 crore.
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 company announced a dividend of Rs 19.50 per share, amounting to Rs 7,250 crore.
Before that, Vedanta announced its first interim dividend of Rs 31.50 per share in April, amounting to Rs 11,710 crore. The total dividends it paid in FY23 so far amounted to Rs 30,112 crore. Promoters held 69.69 per cent stake in Vedanta as of December 31.
Vedanta announced dividends of Rs 45 per share for FY22, Rs 9.50 per share for FY21 and Rs 3.90 per share in FY20.
Recently, Hindustan Zinc announced its fourth interim dividend for FY23. The Anil Agarwal-led company announced a dividend of Rs 26 per share, amounting to Rs 10,986 crore. The dividend announced by the world's second-largest integrated zinc producer and sixth-largest silver producer globally will help Vedanta earn Rs 7,132 crore in dividend payout on 2,74,31,54,310 shares it held in the company as of December-end.
Vedanta held 64.92 per cent stake in Hindustan Zinc as of December 31.
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