Vedanta Ltd declared its first interim dividend of Rs 18.50 per equity share, which is 1850 per cent on face value of Re 1 per share for the financial year 2023-24. “The company has approved the first interim dividend of Rs 18.50 per equity share i.e. 1850 per cent on face value of Re 1 per share for the financial year 2023-24 amounting to c. Rs 6,877 crore,” the company said in a regulatory filing. The record date for the purpose of payment of dividend is May 30, 2023.
Vedanta had announced a dividend of Rs 33 per share in the March quarter and a total of five dividends for FY23, taking the total payout for the year at Rs 101.50 for FY23, amounting to Rs 37,730 crore.
Anil Agarwal-led Vedanta Ltd reported fiscal fourth quarter net profit at Rs 3,132 crore, down 80 per cent on-year as against Rs 7,261 crore last year in the same quarter. Its consolidated revenue from operations also fell 5 per cent YoY at Rs 37,225 crore as against Rs 39,342 crore in Q4FY22. The company recorded an increase in mined metal production, reaching 1,062 kilotons and marking a 4 per cent YoY growth. The refined metal production also achieved 1,032 kilotons, showing a 7 per cent YoY increase. In the oil and gas sector, the company signed a 10-year extension to its production-sharing contract.