Vedanta in spotlight as board meets to decide fourth interim dividend for FY25 today
Vedanta Dividend: Shares of Vedanta rose 1.2 percent to Rs 527, marking a new 52-week high, as the board gears up to consider its fourth interim dividend for FY25.
Vedanta's board meeting, which in underway, will determine the fourth interim dividend. The company has set December 24 as the record date, ensuring eligibility for shareholders.
This meeting was previously deferred in October due to unforeseen reasons.
The mining giant has already declared three interim dividends for FY25, amounting to Rs 35 per share. Its most recent payout of Rs 20 per share came in September, following earlier dividends of Rs 11 and Rs 4.
Vedanta has a rich dividend history, declaring 45 dividends since 2001, per Trendlyne data.
Performance boost in FY25
Vedanta shares have doubled in value this year, delivering a stellar 102 per cent year-to-date return. The company’s Q2 FY25 performance saw a profit of Rs 5,603 crore, a sharp turnaround from the Rs 915 crore loss recorded in the same period last year.
While revenue from operations dipped 4 per cent year-on-year to Rs 37,171 crore, EBITDA for the July-September quarter stood at Rs 9,828 crore, with margins at 26.1 per cent.
Stock Reaction
Vedanta's stock has delivered strong returns in 2024, up over 100 per cent year-to-date, following a lacklustre performance in previous years. After a 16 per cent decline in 2023 and a 10 per cent drop in 2022, the stock rebounded sharply, building on its 111 per cent surge in 2021.
However, on Monday, Vedanta ended 1.1 per cent lower at Rs 513.7, snapping a two-day winning streak. Despite recovering marginally from its intraday lows, the stock remained under pressure. Investors continue to monitor Vedanta’s performance amid its recent dividend announcements and volatile trading sessions, which have kept the stock in focus.
Investor optimism
The stock's recent surge aligns with market optimism over the company's strong dividend track record and its financial recovery. The trading window for Vedanta’s securities remains closed from December 12 to December 18 in light of the upcoming board meeting.
Investors are keenly watching the company’s dividend announcement as it continues to bolster its position in the market.
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