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The diversified minerals company on Tuesday announced its third interim dividend of Rs 17.50 per equity share. The dividend will lead to a total payout of Rs 6,505 crore to shareholders.
"We wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of ₹ 17.50 per equity share i.e. 1750% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to c. ₹ 6,505 crores," Vedanta said in a statement.
Shares of Vedanta rose 0.71% to Rs 310.05 on the BSE. The stock offers a yield of 5.64% on interim dividend of Rs 17.50 per equity share.
Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.
On consolidated basis, Vedanta's net profit declined 53.71% to Rs 2,690 crore despite of 20.6% increase in revenue from operations to Rs 36,237 crore in Q2 FY23 over Q2 FY22.
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