Vedanta’s fifth interim dividend for this 12 months is value Rs 7,621 crore.

The Vedanta board on March 28 introduced the cost of the fifth interim dividend for this 12 months. The board of billionaire Anil Agarwal-led Vedanta Ltd, after holding a gathering earlier within the night, stated the corporate will pay Rs 20.50 per fairness share dividend, amounting to a complete of Rs 7,621 crore.

It stated in an trade submitting that the Board has permitted the fifth interim dividend of Rs 20.50 per fairness share, which is 2050 p.c on the face worth of Rs 1 per share for the monetary 12 months 2022‐23 amounting to Rs 7,621 crore.

“The record date for the purpose of payment of the dividend is Friday, April 07, 2023,” it added.

Also learn: Vedanta: Higher dividend payout likely to continue in the short term

“The board of directors of the company is proposed to be scheduled on March 28 to consider and approve the fifth interim dividend on equity shares, if any, for the Financial Year 2022-23,” Vedanta had stated in a regulatory submitting.

Notably, the shares of Vedanta on March 23 closed 4.87 p.c decrease at Rs 271.35 apiece on BSE amid stories that mining mogul Agarwal is considering a stake sale in Vedanta and is inspecting the opportunity of promoting lower than 5 p.c of the corporate.

However, quickly after the report, Vedanta termed any such talks of stake sale in oil-to-metals conglomerate as “untrue and baseless”.

According to the corporate’s spokesperson, “Any talk of stake sale in Vedanta Ltd is untrue and baseless.” The media report had stated {that a} stake sale in Vedanta is a final resort for Agarwal and can solely be thought of if different fundraising choices fail.

Vedanta Resources which is a majority shareholder of Vedanta Ltd has been trying to scale back its debt by means of the sale of its zinc belongings for a money consideration of $2,981 million to Hindustan Zinc Ltd (HZL). However, the federal government which holds a 29.54 p.c stake in Hindustan Zinc has sternly opposed this transfer.

Vedanta holds 64.92 p.c of the fairness share capital of HZL.

Per week in the past, Hindustan Zinc Ltd had introduced its fourth interim dividend of Rs 10,985.83 crore to its shareholders.