Vedanta Ltd, the company led by Anil Agarwal approved a third interim dividend of Rs 20 per share for this year taking total FY’25 dividend payout to about Rs 13,474 crore. The board on July 26 had cleared a second interim dividend of Rs 4 per share for the fiscal as it faced regulatory heat.
The company had earlier on May 16 approved a first interim dividend of Rs 11 per share involving total payout of an amount up to Rs 4,089 crore. Accordingly, cumulative dividend for FY’25 till date totals to Rs 13,474 crore.
The board of directors, at its meeting on September 2, 2024, approved the third interim dividend of Rs. The ex-dividend date will be on September 10 with a dividend payout of $.14.
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In the last fiscal year (2023-24), Vedanta shareholders received a total interim dividend of Rs 29.5 per share, totaling heavily at over Rs 10,966 crore.
The continuous stream of dividends and capital appreciation delivered a five-year total shareholding return plus dividend yield of 276 percent and 65 percent, respectively as at June 30,2024.
The group was recently in the global market to raise funds through a qualified institutional placement (QIP) and offer-for-sale (OFS), which will equip its cash-rich non-financial holding company, Sterlite Technologies with about Rs 15,000 crore worth of fresh capital.
The funds in the war chest can be used for speedy balance sheet deleveraging, enhancing capital structure and funding new growth initiatives as well as prevailing over-indented opportunities.
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For the first quarter, Vedanta reported significantly higher quarterly numbers with PAT increasing 54%, more than doubling sequentially to Rs5,095cr. Its debt amounted to Rs 61,300 crore as of June.
Vedanta Resources, the parent company of Vedanta Ltd, is not expected to roll over its loans and aims to cut as much as USD 3 billion in debt over next three years.
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