The board of Vedanta Ltd. will consider a fourth interim dividend for the current financial year in a meeting on Oct. 8.
The record date to determine the eligible shareholders for the dividend, if declared, is fixed as Oct. 16, according to an exchange filing on Wednesday.
Earlier this month, the board had approved the third interim dividend of Rs 20 per equity share, totalling Rs 7,821 crore, for fiscal 2025.
On May 16, it had declared the first interim dividend of Rs 11 apiece for the fiscal, amounting to Rs 4,089 crore. The second interim dividend for the period was announced on July 26 at Rs 4 per equity share and it totalled to Rs 1,564 crore.
Last month, Vedanta raised Rs 3,100 crore after diluting shareholding in subsidiary Hindustan Zinc Ltd. by 1.51% through an offer for sale. The Anil Agarwal-owned metals giant was eyeing to raise Rs 6,500 crore via the share sale.
Shares of Vedanta closed 2% higher at Rs 479.6 apiece on the BSE, ahead of the announcement, compared to a 0.3% advance in the benchmark Sensex.
Seven out of the 13 analysts tracking the company have a "buy" rating on the stock, five recommend a "hold" and one suggests "sell", according to Bloomberg data. The average of 12-month analyst price target of Rs 473.5 implies a potential downside of 1.3%.
RECOMMENDED FOR YOU
POPULAR