The board of Vedanta Ltd approved a third interim dividend of ₹20 per share for the current financial year on Monday.
The payout will take the total dividend amount in this fiscal to ₹13,474 crore.
“The board of directors of Vedanta Ltd at its meeting held on September 2, 2024 has considered and approved the third interim dividend of ₹20 per equity share on the face value of Re 1 per equity share for financial year 2024-25 amounting to ₹7,821 crore,” the Anil Agarwal-led firm said in a regulatory filing to the stock exchanges.
The record date for the purpose of payment of the dividend will be September 10, the company said.
Earlier on July 26, the board had approved a second interim dividend of ₹4 per equity share, amounting to ₹1,564 crore.
This was preceded by the first interim dividend in May of ₹11 per share. It had amounted to ₹4,089 crore.
The promoter holding in Vedanta Ltd, comprising individuals and other entities, stands at 56.38 per cent. They will receive ₹7,596 crore from the interim dividend so far this financial year.
During 2023-24, Vedanta had declared a total interim dividend of ₹29.5 per share, amounting to ₹10,966 crore.
The dividend flow has generated an yield of 65 per cent to investors over five years, Vedanta said in a presentation.
During this period, capital appreciation has generated returns of 276 per cent to the shareholders for the five years ending June 30, 2024.
Shares of Vedanta Ltd on Monday ended 1.06 per cent lower at ₹463.30 on the BSE. At closing, it had a market cap of ₹1,81,168.28 crore.
Last month, group firm Hindustan Zinc (HZL) had declared an interim dividend of ₹19 per share.
It was the second such payment for the current financial year, amounting to ₹8,028.11 crore.
Based on the shareholding of Vedanta Ltd, it will receive a little over ₹5,100 crore.
In July, the mining conglomerate raised ₹8,500 crore (over $ 1 billion) through qualified institutions placement (QIP) of 19.31 crore equity shares at an issue price of ₹440 per share.
