The board of directors of Vedanta Ltd. approved the fifth interim dividend of Rs 20.5 per share, with a face value of Rs 1 each, on Tuesday.
The commodities major will have an outgo of Rs 7,621 crore from the payout, according to an exchange filing.
The record date for the purpose of paying a dividend is April 7, 2023.
The company's Chief Financial Officer, Ajay Goel, has resigned, effective April 9, to pursue a career outside the group, the filing added. "The company will announce the details of the successor in due course."
In addition to the fifth interim dividend, the Anil Agarwal-owned mining company has already paid out nearly Rs 30,109.3 crore as four interim dividends in the current fiscal.
The dividend is crucial for Vedanta Resources, the company's London-based subsidiary that aims to settle its $2 billion worth of bonds in 2024.
Moody's, on March 10, downgraded the company's bonds, citing an increasing refinancing risk due to large debt maturities, according to Bloomberg.
Shares of Vedanta closed 0.55% higher on Tuesday, compared with a fall of 0.2% in the Nifty 50.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
