Shares of Anil Agarwal-owned mining conglomerate Vedanta Ltd. will be in focus ahead of its board meeting on Monday, December 16, to consider its fourth interim dividend for financial year 2025.
The company had made the announcement with regards to the board meeting in an exchange filing on December 12.
Vedanta was initially supposed to hold its board meeting to consider a fourth interim dividend in October this year but was put off due to unforeseen circumstances
The record date for the said dividend payout has been fixed as December 24, 2024.
The company, with business interests spanning aluminium, zinc, copper and oil & gas, has already paid ₹35 as dividends so far in the first three instances this year. It had paid its third interim dividend of ₹20 recently, following two prior announcements of ₹11 and ₹4 respectively.
The amount paid by Vedanta as dividend so far in the current financial year has already crossed the ₹29.5 it paid as dividend for the financial year 2024. The company had paid over ₹100 as dividend in the financial year 2023.
Vedanta is also currently in the process of splitting the company into six different listed entities and shareholders will be entitled to receive one share of each entity for every one share of the currently listed entity they own. The company aims to complete the process by the end of the current financial year.
Shares of Vedanta Ltd. ended little changed on Friday at ₹521. The stock has already doubled in value this year, excluding the dividend payouts.
The 102% return so far in 2024 is the best for the company in a calendar year since 2021, during which the stock had gained 110%. Shares had delivered negative returns in both 2022 and 2023.
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