Billionaire Anil Agarwal-led Vedanta will reward shareholders with a dividend payout for the second time this year after reporting consecutive bumper profits last year.
The mining company has approved interim dividend of 13.50 per share, total 5,019 crore, the company said in a filing to BSE on Saturday. This comes after its cash-rich arm Hindustan Zinc Ltd announced a $1 billion payment earlier this week.
Hindustan Zinc said on 7 December that its board has approved an interim dividend of 18 per equity share for 2021-22, amount 7,605.57 crore.
London-based parent Vedanta Resources Ltd will be the biggest beneficiary of the payment and cash will help it meet some of its debt obligations. In September, the Mumbai-based commodities major had announced the first interim dividend of Rs 68.77 billion.
Vedanta’s gains rose more than five times in the three months to September as strong demand from global stimulus pushed up base metal prices.
Vedanta NSE Ltd shares traded up 0.36% 350.1 on the BSE at 12:18 pm (IST) on Friday, up 0.46% from the previous close. Stock cites 52-week low 130.0 and higher 385.75.
The market value of the share of Vedanta Ltd. is 130250.57 crores.
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