Vedanta shareholders to rejoice: Company lines up for 4th dividend for FY25

The uptick in Vedanta's stock was fueled by the company's plan to declare a fourth interim dividend for FY25

Vedanta dividend announcement 2024: Shares of Anil Agarwal-led metals and mining major Vedanta were in the spotlight on Thursday as the scrip surged 3.30 per cent to day's high of Rs 495.45 apiece during Thursday's intra-day trading. The uptick was fueled by the company's announcement of a fourth interim dividend for FY25.

Vedanta, in an exchange filing, has said that a meeting of the Board of Directors of the company is proposed to be scheduled on Tuesday, October 8, 2024, to consider and approve the fourth interim dividend on equity shares, if any, for the financial year 2024-25.

As per the data available on the exchanges, Vedanta has already fixed Wednesday, October 16, 2024, as the 'Record Date' for the purpose of determining the entitlement of the equity shareholders for the said dividend.

 

Vedanta boasts a rich history of paying dividends to its shareholders. The data available on the BSE reflects that the company has earlier this financial year paid interim dividends of Rs 11, Rs 4, and Rs 20 on three different occasions. At the current market price, Vedanta shares have a dividend yield of 7.23 per cent, as of September 26, 2024.

Vedanta, a subsidiary of Vedanta Resources, has operations as a global powerhouse of minerals, power, and energy companies, uniquely covering traditional and new-age businesses. Formerly a FTSE 100 company and headquartered in London, Vedanta Resources is the holding company for Vedanta and Konkola Copper Mines. 

Vedanta enjoys a market capitalisation of Rs 1,89,204.13 crore on the BSE, as of September 26, 2024. The company is a constituent of the BSE 100 index.

In the first quarter of FY25, Vedanta’s profit after tax (PAT), attributable to the owners of the company, jumped to Rs 3,606 crore, from Rs 2,640 crore reported in the corresponding quarter of the previous fiscal year.

Historically, Vedanta shares have exhibited remarkable performance. Shares of mining major have advanced nearly 5 per cent in the last one month, and 80 per cent in the last six months. The company’s shares have sprinted 89 per cent year-to-date. 

Vedanta shares have doubled investors’ money in the last one year with a rally of a whopping 116.02 per cent during the said period.

Vedanta shares have a 52-week range of Rs 506.85 - 207.85 on the BSE.

At around 11:08 AM, Vedanta shares were quoted trading at Rs 495.10, up 3.23 per cent from its previous close. At the same time, nearly 7.08 lakh equity shares of Vedanta worth around Rs 34.36 crore exchanged hands on the BSE.