Shares of Vedanta fell 6% on April 6 as the stock traded ex-dividend today. The mining giant’s shares were trading down 5.5% at Rs 270.65 at 9:45 am on the NSE.

In an exchange filing dated March 28, the company approved a fifth interim dividend of Rs 20.50 per share, or 2,050% of the face value of Rs 1 per share, for the financial year 2022-23, totalling Rs 7,621 crore. “The record date for dividend payment is Friday, April 7, 2023,” Vedanta said.

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

The ex-dividend date is usually the working day before the equity registration date. One can receive the upcoming dividend payment if one buys a stock on the ex-dividend date.

The interim dividend declared by the company in the last financial year amounted to Rs 101.5.

While the stock has returned more than 300% over the past three years, the stock is down 38% over the past year. The Mumbai-based miner said its total aluminium production in the fourth quarter of fiscal 2023 was almost flat.