Vedanta To Give Fourth Interim Dividend Of Rs 8.5 Per Share
Vedanta will pay Rs 8.5 per share as its fourth interim dividend for FY2025, marking a Rs 3,324 crore payout. The record date for the dividend is Dec. 24, 2024.
Vedanta Ltd. on Monday announced the fourth interim dividend of Rs 8.5 per equity share for fiscal 2025. The board fixed Dec. 24 as the record date for the purpose of dividend payment, according to an exchange filing.
The fourth interim dividend will see the mining conglomerate shell out Rs 3,324 crore to shareholders.
Previously, Vedanta had issued an interim dividend of Rs 20 apiece on Sept. 10 and a dividend of Rs 4 on Aug. 2. It had also issued an interim dividend of Rs 11 in May 2024.
The company has so far paid Rs 13,686 crore to shareholders.
The company in November said that it will invest $2 billion to build copper-processing facilities in Saudi Arabia. The firm will build a new smelter and refinery with a capacity of 4,00,000 metric tonnes per year. Vedanta also plans to set up a facility to produce as much as 3,00,000 tonnes per year of copper rods, a key raw material for electric cables.
Shares of Vedanta closd 1.21% lower at Rs 513.4 apiece, compared with a 0.47% decline in the benchmark BSE Sensex. The stock has risen 96.95% in the last 12 months and 99.67% year-to-date.
Out of 15 analysts tracking the company, nine maintain a 'buy' rating, five recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 2.3%.
