Vedanta shares rose more than 3% on December 13 after the firm stated on December 11 that the board had approved a second dividend for FY22 of Rs 13.50 per share, amounting to Rs 5,019 crore for the business.

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The record date for the payment of dividends has been scheduled as December 18, according to a regulatory filing by the company.

The promoters, who own 65.18%, will receive Rs 3,271 crore as part of the second dividend. Vedanta has already authorised an interim dividend of Rs 18.50 per share for FY22 on September 1. This amounted to an outgo of Rs 6,877 crore, of which the founders received Rs 4,482 crore.

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According to Bloomberg Quint, Vedanta paid a dividend of Rs 3,471 crore in FY21.

On December 7, its subsidiary Hindustan Zinc approved an interim dividend of Rs 18 per equity share with a face value of Rs 2 for the fiscal year, totaling Rs 7,605.57 crore.

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Vedanta recorded a consolidated net profit of Rs 4,615 crore in July-September, increasing 5.5 times year on year (YoY) due to robust aluminium prices on the London Metal Exchange, which reached an all-time high in September. In the preceding quarter, the firm generated a net profit of Rs 4,224 crore.

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Vedanta’s operating income increased 44.4% year on year to Rs 30,048 crore in July-September. In the second quarter of the current fiscal year, total costs increased by 30% to Rs 23,222 crore.

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The stock reached an intraday high of Rs 360.40 and was trading 2.2% higher on the BSE at Rs 357.35 at 9:37 a.m. It has reached a 52-week high of Rs 385.75 and a 52-week low of Rs 130.