Vedanta board approves third interim dividend of Rs 20/share. Company payout at Rs 7,821 crore
Vedanta board on Monday approved the third interim dividend of Rs 20 per equity share for the financial year 2024-25. The total dividend payout will amount to Rs 7,821 crore.
The company has set the record date on September 10, 2024.
The metal major informed about the development after market hours and the stock on Monday ended at Rs 464 on the NSE, down by Rs 4.45 or 0.95% over the Friday closing price.
Last month, the company approved its second interim dividend of Rs 4 per equity share on the face value of Re 1 apiece amounting to a total payout of Rs 1,564 crore. The Anil Agarwal-led mining major had in May declared its first interim dividend of Rs 11 per share.
The stock has been in top form over the past 12 months delivering 92% returns, which was nearly three times of the returns by the Nifty Metal index and the broader Nifty in the saime period. While Nifty Metal index has returned 33%, Nifty's returns are 30% in the same period.
Vedanta had reported 37% year-on-year (YoY) growth in its consolidated net profit at Rs 3,606 crore in the first quarter. This compares with Rs 2,640 crore posted in the previous year period. Revenue from operations during the reporting quarter rose 6% YoY to Rs 35,239 crore as against Rs 33,342 crore in the corresponding quarter of last year.
The company's EBITDA during the quarter jumped 47% YoY to Rs 10,275 crore and margins stood at 34%.
Operationally, the overall cost of production declined by 20% YoY due to structural changes and other initiatives.
The company clocked
