Vedanta dividend 2024: Mining giant may consider second interim dividend on July 26; check record date and other details

Vedanta Limited, a mining giant that recently received two critical mineral blocks in Karnataka and Bihar each, may consider its second interim dividend on July 26, 2024, the company said in a stock market disclosure.

"The meeting of the Board of Directors of the company is proposed to be scheduled on Friday, July 26, 2024, to consider and approve the second interim dividend on equity shares, if any, for the financial year 2024-25," Vedanta said in an exchange filing.

"The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, August 03, 2024," it said.

Recently, the mining conglomerate raised Rs 8,500 crore (over $1 billion) through qualified institutions placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share, according to a stock exchange filing by the company.

The issue, which closed on July 19, implied a discount of 4.61 per cent to the floor price of Rs 461.26 per equity share.

Vedanta's first interim dividend of FY5

In May, the board of the company approved the first interim dividend of the financial year 2025.

"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.

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 Q1 business update

Mining giant Vedanta reported a rise in production of aluminium, zinc, iron ore, and steel in the June quarter.

However, the production of mined metal at overseas and oil and gas dropped during the quarter.

Meanwhile, shares of Vedanta closed at Rs 434.9 each, down 3.1 per cent on BSE today.