Vedanta Ltd.'s board of directors approved on Thursday the first interim dividend of Rs 11 apiece on the face value of Rs 1 per equity share for financial year 2024–25, amounting to Rs 4,089 crore. The company has fixed May 25 as the record date for the purpose of dividend payment, according to an exchange filing.
In comparison, the company issued an interim dividend of Rs 11 each on Dec. 27, 2023. It gave a dividend of Rs 18.50 per share in May 2023.
In a meeting, the board also approved raising funds of Rs 8,500 crore through the issue of equity shares and/or security convertible into equity shares. The company will also be investing in Vedanta Copper International to set up a copper rod plant in Saudi Arabia.
Shares of Vedanta closed 0.96% lower at Rs 433.20 apiece on the BSE, compared to a 0.93% advance in the benchmark Sensex.
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