Vedanta approves fourth interim dividend; receives rating upgrade

Metal and mining major Vedanta Ltd on Monday approved its fourth interim dividend of Rs 8.5 per share for financial year 2024-25. The announcement was made after market hours today. Additionally, Vedanta said India Ratings and Research Private Limited has upgraded ratings on Non-Convertible Debentures (NCDs) to 'IND AA-/Rating Watch with Developing Implications' and the rating on commercial paper has been withdrawn.

Vedanta stock closed 1.21% lower at Rs 513.40 against the previous close of Rs 519.70 on BSE.  It also hit a record high of Rs 527 in early deals on BSE.  Market cap of the firm fell to Rs 2 lakh crore. A total of 7.99 lakh shares of the firm changed hands amounting to a turnover of Rs 41.21 crore on BSE.

The record date for the fourth interim dividend has been fixed as December 24 this year.

"We wish to inform you that the Board of Directors of Vedanta Limited (the “Company”), at its meeting held today i.e. Monday, December 16, 2024, has considered and approved the Fourth Interim Dividend of Rs 8.5/- per equity share on face value of Rs 1/- per equity share for the Financial Year 2024-25 amounting to Rs 3,324 Crores. As intimated earlier, the record date for the purpose of payment of dividend shall be Tuesday, December 24, 2024, and the interim dividend shall be duly paid within the stipulated timelines as prescribed under law," said Vedanta.