Vedanta Shares Are Turning Ex-Dividend Next Week: Key Details You Should Not Miss

Vedanta Limited is a subsidiary of Vedanta Resources Limited. It has emerged as 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.

Vedanta has a market capitalization of Rs 96,033 crore. Earlier this month the board of Vedanta Ltd has approved a second interim dividend of 1950% or Rs 19.50 per equity share. The total payout for the financial year 2022-23 will amount to Rs 7,250 crore. Earlier, the company has paid a dividend of Rs 31.5 per share. Check key takeaways pertaining to ex-dividend date and more below:

Vedanta Limited Share To Trade Ex-Dividend Date Next Week

According to the BSE filing, the board of directors of the company stated, "In continuation to our Letter No. VEDL/Sec./SE/22-23/66 dated July 14, 2022 and pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors of the Company through resolution passed by circulation on Tuesday, July 19, 2022 have approved Second Interim Dividend of ₹ 19.50 per equity share i.e. 1950% on face value of Re. 1/- per share for the Financial Year 2022-23 amounting to Rs 7,250 crores. The record date for the purpose of payment of dividend is Wednesday, July 27, 2022. The interim dividend will be paid within stipulated timelines as prescribed under law."

It is important to note that the ex-dividend date is 26/07/2022 and the record date is 27/07/2022.

2. Vedanta Limited Stock Outlook

The current market price of the stock is Rs 258.35 apiece. The 52-week high is Rs 440 apiece while the 52-week low is Rs 206 apiece, respectively. It is a company with strong financials. The PE of the stock is 5.11 while the sector PE is 6.83. The stock has given a return of 16% in one month and 54% in 3 years. It has given a negative return of 3.7% in 5 years. 

3. Vedanta Limited Dividend History

Vedanta has been maintaining a good dividend history. The company has consistently declared dividend in the last 5 years. It has a high dividend yield of 17.42 considering its current market price of Rs 258 apiece.

4. Vedanta Shares Zoomed After Government Cut Windfall Tax

Vedanta stock zoomed nearly 9% soon after the announcement of government to cut additional excise duty levied on crude oil production and interim dividend announcement. A sudden cut in additional taxes imposed on fuel exports and crude oil production has given boost to the energy sector prospects. According to PTI news, government on July 20, 2022 scrapped a three-week-old tax on the export of petrol and cut windfall taxes on overseas shipments of diesel and ATF as well as on domestically produced crude oil after global oil prices fell.

5. Vedanta Limited Overview

For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Vedanta and its group companies have been featured in the Dow Jones Sustainability Index 2020, and have been conferred Frost & Sullivan Sustainability Awards 2020, CII Environmental Best Practices Award 2020, CSR Health Impact Award 2020, CII National Award 2020 for Excellence in Water Management, etc.