Vedanta stock in focus as share trades ex-dividend today. Details here
Stock in focus: Vedanta shares are one of the dividend stocks that would trade ex-dividend today. The dividend paying stock announced 5th interim dividend of ₹20.50 per share in the financial year 2022-23. The company also announced record date for interim dividend on 7th April 2023. Developments in regard to Vedanta dividend was shared with the Indian bourses in an exchange communication by the company.
Vedanta dividend ex-date
Informing Indian bourses about interim dividend Vedanta said, “Pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company at their meeting held on Tuesday, March 28, 2023 have approved the Fifth Interim Dividend of ₹20.50 per equity share i.e., 2050% on face value of Re 1/- per share for the financial year 2022-23 amounting to ₹7,621 crores. The record date for the purpose of payment of dividend is Friday, April 07, 2023. The interim dividend will be paid within the stipulated timelines as prescribed under law. The meeting commenced at 04:10 pm IST and concluded at 05:25 pm IST.”
Vedanta will pay this interim dividend on ex-date basis and hence the stock will trade ex-dividend on 6th April 2023 i.e. today.
Vedanta dividend history
As per the information available on BSE website, Vedanta has declared dividends on five occasions in FY23. Vedanta traded ex-dividend stock on 6th May 2022 for the payment of ₹31.50 per share interim dividend. On 26th July 2022, Vedanta shares traded ex-dividend stock for payment of ₹19.50 per share interim dividend. On 29th November 2022, Vedanta shares once again traded ex-dividend for an interim dividend of ₹17.50 per share. On 3rd February 2023, Vedanta shares traded ex-dividend for payment of ₹12.50 per share to its shareholders.
Vedanta dividend declared in FY23
So, as per the Vedanta dividend history, the dividend paying stock has given five interim dividend with net dividend of ₹101.50 ( ₹31.50 + ₹19.50 + ₹17.50 + ₹12.50 + ₹20.50). As Vedanta share price at the beginning of FY23 was around ₹405 apiece levels, Vedanta dividend yield in FY23 stands at around 25 per cent, which is much higher than PPF and bank fixed deposit (FD) return in this time.
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