After QIP mop up, Vedanta to consider second interim dividend for FY25 on July 26

The record date for determining entitlement of equity shareholders for the proposed dividend, is being fixed as Saturday, August 03.

Anil Agarwal's Vedanta will be considering its second interim dividend for the fiscal on July 26, the company said in an filing to the stocks exchange on July 23.

The record date for determining entitlement of equity shareholders for the proposed dividend, is being fixed as Saturday, August 03.

In May, mining major Vedanta's board had approved a dividend payment of Rs 11 per share to the shareholders in for FY25, amounting to a total payout of around Rs 4,089 crore. The record date for this had been set at May 25.

The dividend outgo by Vedanta has been high in the last few years. During FY23, the company paid a total dividend of Rs 37,572 crore, while it declared Rs 16,689 crore in dividends in FY22 and Rs 3,519 crore during FY21.

Since July 23, 2001, Vedanta has declared 42 dividends, including three in FY24, which amount to Rs 50 per share.

Shares of Vedanta ended lower by 3.33 percent on July 23, but are higher by 69 percent on YTD basis.

Earlier in July, Vedanta raised Rs 8,500 crore (over $1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore shares at an issue price of Rs 440 per share. The proceeds from the QIP will help de-leverage Vedanta's balance sheet, the company said, helping deliver the $10 billion EBITDA targets in the near term.