Vedanta Dividend 2024: Shares gain as company approves 3rd interim dividend - Check amount, record date and other details

Vedanta Dividend 2024

Vedanta Dividend 2024: Shares of Anil Agarwal-led Vedanta Ltd gained on Tuesday, a day after the company approved the third interim dividend of Rs 20 per share for the current financial year, taking the total dividend payout for FY'25 to Rs 13,474 crore. On July 26, the board approved the second interim dividend of Rs 4 per equity share for 2024-25 amounting to Rs 1,564 crore. On May 16, the company had approved the first interim dividend of Rs 11 per equity share for FY'25 amounting to Rs 4,089 crore. This takes the total dividend for 2024-25 so far to Rs 13,474 crore.

Vedanta Share Price

Vedanta Dividend 2024: The counter opened at Rs 472.80 - a gain of 2.05 per cent from the previous close of Rs 463.30 on the BSE. It surged further to touch the intra-day high of Rs 473.05. Last seen, the counter was trading at Rs 465.70.

Vedanta Dividend 2024

Vedanta Dividend 2024: "The board of directors of Vedanta Ltd at its meeting held today i.E. Monday, September 2, 2024, has considered and approved the third interim dividend of Rs 20 per equity share on face value of Rs 1 per equity share for the financial year 2024-25 amounting to Rs 7,821 crore," Vedanta Ltd said in a filing to BSE.

Vedanta Dividend 2024 Record Date

Vedanta Dividend 2024: The record date for the purpose of payment of dividend payment will be September 10, the filing added.

Vedanta Dividend 2024: Total interim dividend

Vedanta Dividend 2024: Similarly, during 2023-24 in total, Vedanta had declared a total interim dividend of Rs 29.5 per share, amounting to Rs 10,966 crore for shareholders.

The steady flow of dividends and appreciation in capital for investors has helped in generating a five-year total shareholding return and dividend yield of 276 per cent and 65 per cent respectively (as on June 30, 2024), as per Vedanta's investor presentation.

Vedanta Dividend 2024: Strong quarterly numbers

Vedanta Dividend 2024: The steady flow of dividends and appreciation in capital for investors has helped in generating a five-year total shareholding return and dividend yield of 276 per cent and 65 per cent respectively (as on June 30, 2024), as per Vedanta's investor presentation.

Vedanta continued to deliver strong quarterly numbers. For the first quarter, profit after tax grew 54 per cent year-on-year and more than doubled on a quarter-on-quarter basis to Rs 5,095 crore. The mining major's debt stood at Rs 61,300 crore as of June 30.

Vedanta Dividend 2024: Vedanta Resources

Vedanta Dividend 2024: Vedanta Resources, the parent firm of Vedanta Ltd, does not foresee a rollover of its loans and plans to deleverage as much as USD 3 billion debt over the next three years.

The dividend payout by Vedanta Ltd will help its parent Vedanta Resources pare outstanding debt. In the last two years, Vedanta Resources has reduced its debt by nearly USD 4 billion by using a combination of dividend payments from the Indian subsidiary and extending the maturity of its outstanding debt.

It now plans to further repay USD 3 billion over the next three years, which will help improve its liquidity and allow Vedanta Ltd to deploy capital for a slew of expansion projects.