Amid speculations of a stake sale, Anil Agarwal-led Vedanta Ltd is also mulling another interim dividend for FY23. In a communication to the bourses, Vedanta has said that its board would meet on March 28, 2023 to take a call on the same.
As per official updates, the March 28 meeting of Vedanta’s board would be to consider the fifth interim dividend on equity shares, if any. The record date for determining the entitlement of the equity shareholders for the interim dividend is being fixed as April 7, 2023. However, this would depend on whether the interim dividend is declared or not.
The regulatory filing reads, "Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the meeting of the Board of Directors of the Company (the “Board”) is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23."
Before this, Vedanta had also announced an interim dividend of Rs 12.5 per share in February, Rs 17.50 in November, Rs 19.5 in July and Rs 31.50 in April. All these values were for financial year 2022-23 alone.
In addition to this, the filing also adds a point on trading. It reads, "Further, pursuant to the provisions of Securities & Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Insider Trading Prohibition Code of the Company, the Trading Window shall be closed for dealing in securities of the Company for all Designated Persons from Friday, March 24, 2023 till Thursday, March 30, 2023 (both days inclusive)."
As per experts, the news of Vedanta considering fifth interim dividend also is an indication of the company’s profitability. However, lately, Anil Agarwal’s Vedanta has also come under scanner over its debt even though the stalwart has assured about the company’s ability to repay it.
Recently, Bloomberg also reported that Vedanta may be considering selling a less than 5 per cent stake of the company. However, the company’s representatives refuted the report and called it baseless.
