Vedanta Dividend: Board approves 1100% interim dividend for FY2425
Vedanta reported its financial results for Q4 on Thursday, April 25. The company had a 27.21 per cent year-on-year (YoY) fall in its consolidated profit after tax (PAT) at Rs 1,369 crore for the quarter ended March 31, 2024 (Q4 FY24).
Mumbai-headquartered mining company Vedanta's board has approved a Rs 11 per share dividend today, May 16, according to a stock market disclosure.
"First Interim Dividend of Rs 11 per equity share on the face value of Rs 1 per equity share for the Financial Year 2024-25 amounting to c. Rs 4,089 Crore," the company said in a BSE filing.
The record date of the dividend is May 25, 2024.
"The record date for the purpose of payment of dividend shall be Saturday, May 25, 2024, and the interim dividend shall be duly paid within the stipulated timelines as prescribed under law," Vedanta informed through BSE filing.
Also Read: Vedanta Group planning to invest $20 billion in 4 years: Anil Agarwal
Vedanta Q4 results
On April 25, 2024, Vedanta reported a 27.21 per cent year-on-year (YoY) fall in its consolidated profit after tax (PAT) at Rs 1,369 crore for the quarter ended March 31, 2024 (Q4 FY24). The numbers were much below Zee Business analysts' estimates of Rs 2,036 crore. In the year-ago period, the metal giant had posted a profit of Rs 1,881 crore.
Revenue from operations came in at Rs 34,937 crore, down 6.1 per cent YoY.
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, slipped 4 per cent on a YoY basis to Rs 8,969 crore against Rs 9,362 crore in the year-ago, while the EBITDA margin stood at 30 per cent against 29 per cent in the corresponding quarter of the previous fiscal. Read more
Vedanta is one of the world’s leading natural resources companies, spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan, and Japan, with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power & glass substrates, and foraying into semiconductors and display glass.
Vedanta stock performance
Vedanta shares have rewarded investors with a return of over 55 per cent in the past 12 months. The company's shares have jumped almost 70 per cent on a year-to-date (YTD) basis and provided more than 80 per cent returns in the last six months.
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