Vedanta’s Historic-High Dividend of Rs 101.5, Dividend Yield at Whopping 36.9%
Vedanta’s Historic-High Dividend of Rs 101.5, Dividend Yield at Whopping 36.9%
Investing.com — The mining major Vedanta (NS:VDAN) declared an interim dividend in the fourth quarter of the financial year 2022-23.
In FY23, the company delivered historically high shareholder returns and declared a whopping interim dividend of Rs 101.5/share during the period.
The mega-cap company’s Board of Directors have announced an Interim Dividend of Rs 33/share for the quarter ending on March 31, 2023.
In the said quarter, Vedanta’s Board of Directors held meetings on January 27, 2023, and March 28, 2023, to approve the fourth and fifth interim dividends for FY23 of Rs 12.5 and 20.5 per share, respectively, translating to 1,250% and 2,050% on the face value of Re 1 each for the financial year.
This takes the total dividend declared by Vedanta in FY23 to Rs 101.5 per share of Re 1 each.
The mining major’s stock closed at Rs 275.1 apiece in Friday’s session, and at this price, Vedanta’s dividend yield stands at a stellar 36.89%.
The Anil Agarwal-led mining company posted a consolidated PAT of Rs 3,132 crore in Q4 FY23, up 1% sequentially, while reporting a 10% higher QoQ quarterly Revenue of Rs 37,225 crore in the period.
For the full financial year, Vedanta produced an all-time high consolidated revenue of Rs 1,45,404 crore, up 11% YoY, along with the second-highest ever annual EBITDA of Rs 35,241 crore.
“We have delivered the highest-ever free cash flow (pre-capex) of Rs 28,068 crore, enabling us to reinvest for business growth and provide our valued shareholders with attractive dividends,” said CEO Sunil Duggal.
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