Vedanta shares rise 2% after approving Rs 20 interim dividend
Vedanta on Tuesday gained 2% to its day’s high of Rs 473.05 after the company announced third interim dividend of Rs 20 per share for the financial year 2024-25.
The total dividend payout will amount to Rs 7,821 crore and the company has set September 10 as the record date for the purpose.
The announcement about the dividend payout was made by the metal major after market hours.
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.
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The stock has been in top form over the past 12 months delivering 97% returns, which was nearly three times of the returns by the Nifty Metal index and the broader Nifty in the same period. While the 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 clocked the highest-ever Alumina production at Lanjigarh refinery at 539 kt, up 36% YoY driven by new capacity. Cast Metal production of Aluminium
