News

Published: September 22, 2024
Updated: September 22, 2024

Vedanta to Announce Fourth Interim Dividend for FY25: Record Date Set for October 16

The Board of Directors of Vedanta, a leading Indian multinational mining corporation, will convene on October 8, 2024, to discuss and potentially declare the fourth interim dividend for the fiscal year 2024-25. This announcement comes as part of the company’s ongoing dividend distribution for the current financial year.

Record Date for Dividend Announcement

In a regulatory filing to the stock exchanges, Vedanta revealed that the record date for determining shareholders’ entitlement to the upcoming dividend is set for October 16, 2024. This means that shareholders who hold the company's equity shares as of this date will be eligible for the dividend, provided it is declared during the Board meeting.

Compliance with Insider Trading Regulations

Vedanta also noted that, in compliance with the Securities and Exchange Board of India’s (SEBI) Insider Trading Regulations, the trading window for Vedanta’s securities will be closed for all designated persons starting September 26, 2024. The window will remain closed until 48 hours after the company announces its unaudited financial results for the second quarter and half-year ending September 30, 2024.

Previous Dividend Announcements and Share Performance

This will be the fourth interim dividend for FY25, following previous dividends of ₹20, ₹11, and ₹4 per share, declared earlier in the year. The company has consistently delivered dividends to its shareholders, boasting a strong dividend yield. For FY24, Vedanta declared an equity dividend of ₹29.5 per share, translating to an impressive yield of 6.15% at its current market price of ₹479.60. Over the past 12 months, Vedanta has offered an equity dividend totaling ₹46 per share, yielding 9.59% at current stock prices.

Share Price Movement and Market Performance

Vedanta’s stock closed at ₹479.60 on Wednesday, marking a 1.99% increase, with a market capitalization of ₹1,87,542.21 crore. The stock’s 52-week high was ₹506.85, recorded on May 22, 2024, while its 52-week low was ₹207.85, seen on September 28, 2023.

Vedanta continues to maintain a robust dividend distribution policy, offering consistent returns to its shareholders. As the company prepares for its fourth interim dividend announcement, investors will be keenly watching the Board’s decision on October 8, 2024, with the record date fixed for October 16, 2024. This move further strengthens Vedanta’s reputation as a shareholder-friendly corporation with a strong financial outlook.