Vedanta Ltd's Board of Directors has approved the issue of an interim dividend for the third time in the financial year 2024-25, according to the company's Bombay Stock Exchange (BSE) fillings on Tuesday, September 2.
The mining major declared an interim dividend of ₹20 per equity share on the face value of ₹1 per share for the financial year 2024-25, according to the company filing. The total value of the dividend issue amounts to ₹7,821 crore, said the company.
“We wish to inform you that the Board of Directors of Vedanta Limited, at its meeting held today i.e. Monday, September 02, 2024, has considered and approved the Third Interim Dividend of ₹20/- per equity share on face value of ₹1/- per equity share for the Financial Year 2024-25 amounting to c. ₹7,821 crores,” said Vedanta in the exchange filing.
The interim dividend announced will be paid on Tuesday, September 10, according to the BSE filing.
Vedanta Limited shares closed 1.06 per cent lower at ₹463.30 after Tuesday's market session, compared to ₹468.25 at the previous market close. The company announced the interim dividend post market operating hours.
Vedanta Limited issued its first interim dividend of ₹11 per equity share in May, followed by a second issue of ₹4 per equity share in July. This interim dividend issue marks the mining major's third.
The mining major issued dividends of nearly ₹101.4 per share in the financial year 2022-23 and ₹29.5 per share in the financial year 2023-24, providing healthy yields for the investors and its London-based parent company Vedanta Plc.
Mint reported earlier that Vedanta Limited announced a 54 per cent rise in net profits to ₹5,095 crore for the April to June quarter of the financial year 2024-25, compared year-on-year with the same quarter the previous year, in the company's consolidated financial statements.
The company reported a 6 per cent rise in revenues to ₹35,239 crore for the first quarter, compared year-on-year. Vedanta's net debt rose to ₹61,324 crore as of the quarter that ended June 2024, compared to ₹56,338 crore at the end of March 2024.
