Vedanta announces interim dividend worth Rs 6,877 cr at Rs 18.50 per share

Anil Agarwal-led natural resources company Vedanta on Wednesday said its board has announced an interim dividend of Rs 18.5 per share, amounting to Rs 6,877 crore.

"The Board of Directors of the company in its meeting held on Wednesday, September 01, 2021, have approved first interim dividend of Rs 18.50 per equity share i.e. 1850% on the face value of Re 1/- per share for the financial Year 2021-22, amounting to Rs 6,877 crores," the company said in a statement.

The record date for payment of dividend is September 9. The interim dividend will be paid in stipulated timelines as prescribed under the law, it added. Vedanta said on Tuesday that it has made a contribution of Rs 2.74 lakh crore to the exchequer in the past 10 years.

Meanwhile, the company said that during 2020-21, Vedanta's contribution to the exchequer was Rs 34,562 crore, which accounts for 40 per cent of the consolidated turnover. "Over the past 10 years, the company has made a total contribution of Rs 2.74 lakh crore to the national exchequer," it said.

Despite the challenges posed by the COVID-19 pandemic during the fiscal, Vedanta's tax contribution in FY21 was nearly Rs 550 crore higher than the previous financial year. The tax contribution includes corporate income taxes, royalties, profit-oil, and significant indirect contributions by way of withholding taxes and indirect taxes, it said.

Shares of Vedanta on Wednesday closed at Rs 298.9, which is Rs 3.90 or Rs 1.29 per cent lower, on the NSE.

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