Vedanta Dividend News: Metal major gains day after record date announcement – check ex-date, history
Vedanta Dividend News, Record Date November 2022, Ex Date: Vedanta gained on Friday day after the mining company made an announcement regarding the record date for the payment of dividend. The company in an exchange filing said that its Board of Directors will meet on November 22 to consider approval of third interim dividend for the current fiscal.
Vedanta Dividend Ex Date
Vedanta shares will trade ex-date a business day before the record date. Usually, an ex-date is a business day prior to the record date. Accordingly, Vedanta ex-dividend date would be November 21.
A person should buy a company’s shares before the ex-date so that shares are credited into the Demat account before the record date. To receive the benefits of corporate actions like dividend, bonus, split and others, one must hold the share in his/her Demant account on the record date.
Vedanta Dividend History
The natural resources conglomerate has so far given investors interim dividend on two occasions in FY23 — Rs 31.50 in May and Rs 19.50 in July. The company spent Rs 18,917 crore in dividend payouts. Apart from this, the company paid Dividend Distribution Tax (DDT) of Rs 3000 crore.
In FY22, the metal major distributed a total dividend of Rs 45 per share to its investors. The payout to equity shareholders of the company was Rs 6,845 crore, according the information available on the exchanges.
In FY21, the company paid Rs 9.5 dividend per share. In the preceding fiscal, it paid Rs 3.9 dividend per share. Before that, the Mumbai based multinational had paid Rs 40.05 dividend per share to its investors.
Vedanta: Buy, Sell or Hold?
Technical Analyst Nilesh Jain recommended a Hold rating on the counter with a long term view. Support is seen at Rs 300 while resistance at Rs 320, he said.
The metal sector is witnessing weakness amid current global uncertainties and any fresh moves, he said, adding that taking fresh position is not advisable with a short term view.
Vedanta has underperformed the BSE Sensex in the past six months, yielding negative returns of 2.83 per cent versus 13.30 per cent gains by 30-stock index. However, the stock has appreciated by Rs 31 in the past one month, gaining almost 11 per cent.
Source: NSE
Meanwhile, brokerage firm Citi has given a ‘Sell’ call on this stock for a revised target of Rs 235 from an earlier target of Rs 215. The recommendation was given at a price of Rs 307.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
