Vedanta hit all-time high as board to meet for 4th interim dividend on December 16
Vedanta hit all-time high as board to meet for 4th interim dividend on December 16
Vedanta Ltd., the Anil Agarwal-led mining and natural resources conglomerate, has grabbed investor attention ahead of its board meeting scheduled for December 16, where it will consider a fourth interim dividend.
Dividend Announcement Sparks Interest
The board meeting, initially planned for October but postponed due to unforeseen circumstances, will now determine the fourth interim dividend payout for FY25. Vedanta has already declared three interim dividends this fiscal year, totalling Rs 35 per share. The latest announcement in September saw a dividend of Rs 20 per share, following earlier payouts of Rs 11 and Rs 4, respectively. The record date for the fourth interim dividend has been set as December 24, 2024.
Stock Performance Overview
Vedanta’s stock gained 1.5 per cent in early trading on Thursday, reaching Rs 520, reflecting growing investor optimism ahead of the dividend announcement. Shares opened 1.2 per cent higher at Rs 520.5, continuing a strong upward trend. The stock had delivered an impressive 101 per cent year-to-date return, doubling in value and marking its best performance since 2021, when it had gained 110 per cent.
Why It Matters
The consistent dividend payouts underscore Vedanta’s commitment to rewarding its shareholders, making the stock an attractive proposition for income-focused investors. Additionally, the robust stock performance reflects market confidence in the company’s operational capabilities and strategic outlook.
What’s Next?
The upcoming board decision on the fourth interim dividend will be a key event for the stock, potentially reinforcing its appeal among dividend-seeking investors. Moreover, the record-breaking returns for the year position Vedanta as one of the top-performing stocks in the natural resources sector, despite broader economic challenges.
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