Vedanta, a leading diversified natural resources company, announced on Monday, May 22, that its Board of Directors has approved the first interim dividend for the financial year 2024. Eligible shareholders will receive a dividend of 1850% or Rs 18.50 per share of face value Re 1.
The total dividend payout to shareholders will amount to Rs 6,877 crore. In a communication to the stock exchanges, Vedanta stated that May 30 has been designated as the record date for identifying shareholders eligible for the dividend.
The company also assured that the interim dividend will be paid within the legally prescribed time frame.
On the day before the record date, Vedanta shares will trade ex-dividend. This means that shares bought on or after this day will not entitle the buyers to receive the dividend.
Investors who wish to avail themselves of the dividend must purchase the shares at least one day before the ex-dividend date.
In the past 12 months, Vedanta has paid a dividend of Rs 70 per share to its shareholders, resulting in a full-year dividend yield of 24.35%.
Throughout the financial year 2023, Vedanta declared dividends on five occasions, distributing approximately Rs 101.50 per share in total.
Vedanta’s shares closed at Rs 287.50 on Monday, May 22, marking a 1.97% increase on the NSE. Over the past month, the company’s shares have gained 4.45%. However, in the last year, the share price has experienced a decline of approximately 5.94%.
The announcement of the first interim dividend by Vedanta reflects the company’s commitment to rewarding its shareholders and maintaining a shareholder-friendly approach in line with its financial performance.
