Vedanta announced a second interim dividend of Rs 19.5 per share.
New Delhi:
Shares of mining giant Vedanta saw a sharp rise on Wednesday after the company announced its second interim dividend for the 2022-23 financial year.
As of 10:29 a.m., the stock price was at Rs 250.60 per share, up 4.96%.
Vedanta announced a second interim dividend of Rs 19.5 per share to related parties for the financial year 2022-23 on Tuesday.
Dividends are rewards that listed companies typically offer to their shareholders from a portion of their earnings.
The proposed dividend would cost the company up to Rs 7,250 crores, it said in a regulatory filing sent to stock exchanges on Tuesday evening.
“The record date for dividend payment purposes is Wednesday, July 27, 2022. Provisional dividends will be paid within the time limit prescribed by law,” the exchange filing for know more.
In early April, the company announced its first interim dividend of Rs 31.5 per share, making the company worth Rs 11,710.
