iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

On March 28, Vedanta will consider paying a fifth interim dividend

24 Mar 2023 , 08:21 AM

The board of Vedanta Ltd. will meet on March 28, 2023, to discuss and approve the fifth interim dividend on equity shares, if any, for the fiscal year 2022–2023 according to a notification the company sent to stock exchanges on Thursday.

The business noted that April 7, 2023, has been set as the record date for establishing the equity shareholders' eligibility for the dividend if announced.

Vedanta previously announced an intermediate dividend schedule that included payments of Rs12.5 per share in February (ex-date), Rs17.50 in November, Rs19.5 in July, and Rs31.50 in April.

Almost 70% of Vedanta is owned by Agarwal's Vedanta Resources Ltd.

According to a Bloomberg report, Vedanta Resources may rely on dividends from its subsidiary Hindustan Zinc Ltd. to help repay the $400 million in dollar-denominated bonds due in April. On Tuesday, Hindustan Zinc said that it would pay an interim dividend of Rs26 per share or roughly Rs11,000 crore.

Globally rising interest rates have put pressure on debtors with low credit ratings who have large debt loads, like Vedanta. The Vedanta Group and its affiliate Hindustan Zinc reached an agreement in January to sell a zinc manufacturing company for $2.98 billion over 18 months. Hindustan Zinc is owned by the Indian government, which is vehemently opposed to the deal.

Vedanta Resources said in a February filing with the exchange that it had reduced its net debt from $7.7 billion to $2 billion in the current fiscal year and will continue to do so in the following two fiscal years.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • debt
  • dividend
  • Vedanta
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp