Vedanta trades ex-dividend today, stock slumps 6%

The total interim dividend announced by the company during the last fiscal year amounted to Rs 101.50.

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Shares of Vedanta slumped percent on April 6 as the stock traded ex-dividend today. At 9:45 am, shares of the mining major were trading 5.5 percent lower at Rs 270.65 on the NSE.

In an exchange filing dated March 28, the company approved the fifth interim dividend of Rs 20.50 per equity share i.e., 2050 percent on the face value of Rs 1 per share for the financial year 2022?23 amounting to Rs 7,621 crore. “The record date for the purpose of payment of dividend is Friday, April 07, 2023,” Vedanta said.

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The ex-dividend date is the day the stock starts trading without the value of its next dividend.

The ex-dividend date is usually the working day prior to the record date. If one buys shares on the ex-dividend date then one could get the upcoming dividend payment.

The total interim dividend announced by the company during the last fiscal year amounted to Rs 101.5.

Read more | Vedanta’s total dividend outgo for FY23 stands 1.5 times the FY22 net profit

Even as the stock has given a return of over 300 percent in the past three years, the scrip has fallen 38 percent in the past year. The Mumbai-based mining company stated that its total aluminium production for Q4FY23 almost came flat.