Vedanta cancels fourth interim dividend meet twice in a row

10 Oct 2024 , 03:01 PM

Vedanta Ltd., headed by Anil Agarwal, cancelled its board meeting for the second day in a row on Wednesday, October 9, during which the company’s board was scheduled to consider a fourth interim dividend for fiscal year 2025 for its shareholders.

Vedanta cited “unforeseen circumstances” for the cancellation of the board meeting on Wednesday as well.

Vedanta’s board was scheduled to meet on Tuesday to discuss the dividend proposal, which was then pushed back to Wednesday.

Anil Agarwal, Group Chairperson, recently commented about his mother’s death on the social networking platform “X,” thanking people who extended their condolences.”

The corporation has not announced a new date for the board’s meeting to examine the dividend proposal.

Vedanta has paid a dividend of ₹35 per share in three tranches to shareholders for the current fiscal year.

The record date for calculating equity shareholders’ right to the fourth dividend, if declared, has been set as October 16, 2024, according to the mining conglomerate’s exchange statement. So far, Anil Agarwal’s business has approved a total dividend of ₹13,474 Crore for 2024-25.

At around 1.27 PM, Vedanta was trading 1.02% lower at ₹491.20, against the previous close of ₹496.25 on NSE. The counter touched an intraday high and low of ₹499.40, and ₹487.55, respectively.

 

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