Metals-to-mining conglomerate Vedanta Ltd will consider the declaring the fourth interim dividend for FY25, on Tuesday. The Board of Directors was scheduled to meet on October 8, 2024 to decide on the interim dividend for equity shareholders, the company informed the stock exchanges on September 25.
The record date for the announcement of interim dividend for equity shareholders is October 16, 2024.
“Notice is hereby given that the meeting of the Board of Directors of the Company (the “Board”) is proposed to be scheduled on Tuesday, October 08, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” the company said in the statement.
On Wednesday, Vedanta Limited stock closed at ₹479.60, making a gain of 1.99% or ₹9.35 per share on the Bombay Stock Exchange (BSE).
On September 2, Vedanta’s Board gave a nod to provide an interim dividend for equity shareholders for the third time in FY25.
The company announced an interim dividend of ₹20 per equity share on the face value of ₹1 per share for FY25, Vedanta informed the stock exchanges.
The total amount of the dividend declared ₹7,821 crore, it added.
Anil Agarwal-led Vedanta issued its first interim dividend for FY25 in May at ₹11 per equity share. The second interim dividend was announced in July at ₹4 per share.
The mining company declared dividends on equity shares around ₹101.4 a share in FY23 and ₹29.5 per share in FY24. This marks high dividend yield for investors and Vedanta Resources, its parent company. Vedanta Resources owns over 56 per cent of the company’s shares.
The mining major reported a net profit of ₹5,095 crore in the April to June quarter of FY25, a 54 per cent increase from the same quarter previous year, as Mint reported previously.
The revenue of the company rose to ₹35,239 crore in the April to June quarter in FY25, marking a 6 per cent increase whereas the net debt increased to ₹61,324 crore.
