Vedanta gains after board OKs interim dividend of Rs 18.50 per share

Vedanta advanced 3.07% to Rs 307.10 after the company's board approved first interim dividend of Rs 18.50 per equity share for the financial year 2021-22, amounting to Rs 6,877 crore.

The record date for the purpose of payment of dividend is set on 9 September 2021.

At the ruling market price of Rs 307.10, the stock offers a dividend yield of 6.02%.

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, Namibia, and Australia.

 

The company's consolidated net profit soared 247% to Rs 5,282 crore on a 79.2% jump in net sales to Rs 28,105 crore in Q1 June 2021 over Q1 June 2020.

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