Vedanta dividend news: The board of metals and mining major Vedanta Limited at its meeting held on Monday, December 16 approved an interim dividend of ₹8.5 per equity share. This is the fourth interim dividend by the company for the financial year 2024-25 (FY25).
The Board of Directors of Vedanta Limited, at its meeting held today i.e. Monday, December 16, 2024, has considered and approved the Fourth Interim Dividend of ₹ 8.5/- per equity share on the face value of ₹ 1/- per equity share for the financial year 2024-25 amounting to ₹ 3,324 crore, the company said in an exchange filing today.
The company had last week announced that it has fixed the record date for the purpose of the payment of dividend as Tuesday, December 24.
The interim dividend shall be duly paid within the stipulated timelines as prescribed under law, the company's filing today added.
Vedanta is known for its frequent and high dividend payouts. In the last 12 months, Vedanta has declared dividends amounting to ₹46 per share, resulting in a dividend yield of 8.96%.
Meanwhile, in the current financial year, the company declared an interim dividend of ₹11 in May, ₹4 in August and ₹20 in September.
Since July 2001, the company has declared 46 dividends.
The Anil Agarwal-led company has delivered stellar returns to investors in recent times. The stock has rallied 97 per cent in a year, while it has risen 15 per cent in the past six months.
On a shorter time frame of three months, it has gained 13 per cent while it has added nearly 19 per cent in the past one month.
Vedanta share price ended the day at ₹513.40, down 1.21 per cent, on the BSE ahead of the dividend announcement.
Apart from dividend announcement, the company also informed about a rating upgrade from India Ratings & Research. In a positive development for Vedanta, the credit rating agency, which is part of Fitch Group, upgraded the ratings on Vedanta's non-convertible debentures (NCDs) IND AA-, with rating watch revised to developing implications from positive implications.
“The upgrade reflects an improvement in VDL’s financial flexibility due to a material reduction in the refinancing risk of USD bonds at VRL, given the recent overseas fund raising post September 2024, which is likely to alleviate the liquidity risks at VDL,” the rating agency said.
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