Dividend Announced: Vedanta has again given good news to its shareholders. The company has announced to distribute dividend for the second time in this financial year 2023-24. Shareholders will get a dividend of Rs 11 per share, which is 1100 percent of the face value share of Re 1. Due to this the company will have to distribute approximately Rs 4089 crore. The company has been distributing good dividends continuously for the last few years. The company had distributed dividend of Rs 16689 crore in the year 2022 and Rs 3519 crore in 2021.
Earlier, dividend was distributed in May
The meeting of the board of directors of the company is going to be held on Tuesday. In this, a decision can be taken on the proposal to introduce Non-Convertible Debentures (NCD). The company said that the decision to launch NCDs will be taken for refinancing. The decision to pay dividend was taken on Monday. The date of distribution of dividend will be decided on Wednesday. Vedanta had earlier announced to distribute dividend for the first time in May. At that time a dividend of Rs 18.50 was given on one share.
Shares of the company closed at Rs 266 with a rise on BSE
On Monday, the company's shares closed at Rs 266 on BSE with a rise. Even on Tuesday, the company's shares are in the green in early trading. Last month, Vedanta shares registered a rise of about 9 percent. The market cap of the company has reached Rs 96,870 crore. On January 20, 2023, it reached its 52-week high of Rs 340.75, but on September 28 this year, the company's shares touched its lowest level of Rs 207.85.
Vedanta Limited is a subsidiary of VRL
Vedanta Limited is a subsidiary of Vedanta Resources Limited (VRL). It works in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Aluminum and Power sectors. Its business is spread across India, South Africa and Namibia. The headquarters of VRL is in Britain.
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