Vedanta to consider fourth interim dividend issue on Monday — December 16

Mining major Vedanta Limited is set to hold a meeting for the board of directors on Monday. An exchange filing earlier this week indicated that the company will deliberate the release of its fourth interim dividend for the financial year 2024-25.

“Board of Directors of the Company (the “Board”) is proposed to be scheduled on Monday, December 16, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” said the mining major in its BSE filing on Wednesday, December 11. 

The board of directors are scheduled to meet on December 16.

The company also declared that if the board of directors approve the fourth interim dividend issue, then the issue date will be on Tuesday, December 24.

“Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Tuesday, December 24, 2024,” said Vedanta in the exchange filing. 

Vedanta Shares

Vedanta Ltd shares closed 0.44 per cent lower at ₹519.70 after Friday's market session, compared to ₹522 at the previous market close. The company's shares jumped after the development of the fourth dividend issue.

Mint reported earlier that Vedanta shares rose nearly 2 per cent on Thursday, December 12 after the company decided to hold a board meeting to discuss the interim dividend issue. After the announcement, the shares went up 1.8 per cent to ₹523.70, in the early morning trade on the BSE. 

In a month, the company's shares have rallied nearly 13 per cent, and the company have given close to 107 per cent in the last one year. 

Vedanta has already paid ₹11 in May, ₹4 in August and ₹20 in September as interim dividends for the year financial year 2024-25.

According to data collected from Trendline, the Anil Aggarwal-led Vedanta Limited has announced 45 dividends since July 23, 2001. Over the past year, the company declared a dividend of ₹46 per share, bringing its dividend yield to 8.87 per cent.