Vedanta share price jumps as board sets date to consider fourth interim dividend for FY25

Stock Market Today: Shares of metal & mining major Vedanta Ltd jumped nearly 2 per cent on Thursday, December 12 after the company said its board will meet next week to consider and approve the fourth interim dividend for the financial year 2024-2025 (FY25).

The board meeting is scheduled for Monday, December 16, the company informed via an exchange filing post market hours a day ago.

“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,” the company's exchange filing read.

Vedanta has fixed Tuesday, December 24, as the record date for determining shareholders eligible to receive the dividend.

Stock Price Impact

Following the announcement, Vedanta share price rose 1.8 per cent in the early morning trade to ₹523.70 on the BSE and was hovering close to its 52-week high of ₹525.15 hit in yesterday's trade.

At 10 am, the stock was trading 1 per cent higher at ₹519.30.

In the last one month, Vedanta share price has rallied 13 per cent. Meanwhile, the stock has given multibagger returns to the tune of 107 per cent in the last one year. From its 52-week low of ₹243.70 touched in December 2023, the stock has more than doubled, up 115 per cent.

The company has a market capitalisation of over ₹2 lakh crore.

Vedanta Dividend History

So far this financial year, Vedanta has already paid three interim dividends — ₹11 in May, ₹4 in August and ₹20 in September.

The Anil Agarwal-led company had cancelled a meeting to consider an interim dividend back in October due to unforeseen circumstances.

According to Trendlyne data, Vedanta 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%.

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