Vedanta Set to Consider Fourth Interim Dividend on October 8, 2024

25 Sep 2024 , 07:24 PM

Vedanta Ltd. will hold a board meeting on October 8, 2024, to consider the declaration of the fourth interim dividend for the financial year 2024-25.

A stock exchange filing confirmed that the meeting is focused on approving the dividend on equity shares, pending the board’s decision. The record date for determining equity shareholders’ entitlement to the dividend will be October 16, 2024.

Earlier this year, Vedanta declared three interim dividends: ₹20, ₹11, and ₹4 per share, with the latest being the third interim dividend announced in September.

The current proposed dividend is expected to result in a total payout of ₹7,821 Crore, marking the highest since April 2023. As of July 20, Vedanta Resources holds a 56.38% stake in Vedanta Ltd. after reducing its stake through block deals and institutional sales.

The company has approximately 17.4 lakh small shareholders, defined as those with authorized capital of less than ₹2 lakh as of the end of the June quarter.

Promoters of Vedanta, Vedanta Resources, have received ₹7,825 Crore from the three dividend tranches declared by the company. Vedanta has raised nearly ₹20,000 Crore through various methods, including dividends from its subsidiary Hindustan Zinc and share sales.