The dividend will lead to a total payout of Rs 7,621 crore to shareholders.

In an exchange filing, Vedanta said, “The board has approved the fifth interim dividend of Rs 20.50 per equity share, 2050% on the face value of Re 1 per share for the financial year 2022‐23, amounting to Rs 7,621 crore.”

The record date for the same has been fixed on Friday, 7 April 2023.

Meanwhile, the mining company said that Ajay Goel has resigned from the position of acting chief financial officer (CFO) with effect from 9 April 2023, to pursue career outside the group.

The company will announce the details of the successor in due course, Vedanta stated.

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, the company's net profit declined 42.25% to Rs 3,092 crore in Q3 FY23 from Rs 5,354 crore posted in Q3 FY22. Revenue from operations fell marginally to Rs 33,691 crore in Q3 FY23 as against Rs 33,697 crore reported in the corresponding quarter last year.

Shares of Vedanta rose 1.86% to Rs 279.30 on the BSE.