Vedanta Ltd’s board of directors will meet today to consider and approve the company’s fourth interim dividend for the financial year 2024-25, adding to Rs 35 per share that it has already distributed to investors so far this fiscal year.
The Anil Agarwal-controlled mining and metals giant said in a stock exchange filing last week that the record date for determining shareholders’ eligibility for the proposed dividend is set as Tuesday, December 24, 2024.
Vedanta dividend history
| Ex-Date | Amount (Rs/share) |
| 10 Sep 2024 | 20 |
| 2 Aug 2024 | 4 |
| 24 May 2024 | 11 |
| 27 Dec 2023 | 11 |
Meanwhile, institutional investors, including foreign institutional investors (FIIs) and mutual funds, have increased their stakes in the company. FIIs raised their holdings from 10.23 percent to 11.45 percent, and mutual funds increased their ownership from 5.34 percent to 7.62 percent in the same quarter.
Vedanta Ltd's robust share price gain boosts investor confidence
Vedanta's share price has doubled over the past year to close at Rs 521 on Friday. The stock’s performance has outpaced the benchmark NSE Nifty 50 index, which has risen less than 16 percent in the same period. The rally has taken Vedanta’s market capitalisation to over Rs 1.9 lakh crore.
The company’s financial performance has been among the key drivers. In the September quarter, Vedanta reported a net profit of Rs 4,352 crore, a significant turnaround from a loss of Rs 1,783 crore in the year-ago period. Revenue from operations declined 3.6 percent year-on-year to Rs 37,171 crore, but quarterly EBITDA jumped 44 percent to Rs 10,364 crore, driven by favourable commodity prices, cost-saving initiatives, and higher premia across its business segments.
Vedanta's UK-parent improves liquidity
Vedanta Resources Plc, the parent company of Vedanta Ltd, has made strides in improving its liquidity position by raising over $2 billion through stake sales in the Indian-listed entity. The funds have been used for bond refinancing and equity infusions into existing and new businesses.
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