Vedanta gains after board OKs second interim dividend

Vedanta rose 2.06% to Rs 356.95 after the company's board approved an interim dividend of Rs 13.5 per share, amounting to Rs 5,019 crore for the Financial Year (FY) 2021-22.

The record date for the purpose of payment of dividend is 18 December 2021.

At Friday's closing price of Rs 348.50, this translates to a dividend yield of 3.87%.

This is the second interim dividend approved by Vedanta for FY 2021-22. In September this year, the company had announced the first interim dividend of Rs 18.50 per equity share for this financial year, amounting to Rs 6,877 crore.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

On a consolidated basis, Vedanta reported attributable net profit of Rs 4,615 crore in Q2 September 2021, steeply higher than Rs 824 crore in Q2 September 2020. Net sales rose 44% to Rs 30,048 crore in Q2 FY22 over Q2 FY21.

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