Vedanta Board To Meet Today To Consider Fourth Interim Dividend
Vedanta share price opened lower on Wednesday, down 1.67%, before recovering marginally, amid anticipation of the board's decision regarding the dividend.
(Source: Vijay Sartape/NDTV Profit)
Vedanta Ltd. is scheduled to hold a Board of Directors meeting on Wednesday to deliberate on the potential declaration of a fourth interim dividend for the financial year 2024-25. The meeting was initially set for October 8 but was postponed due to unforeseen circumstances.
Vedanta share price opened lower on Wednesday, down 1.67%, before recovering marginally, amid anticipation of the board's decision regarding the dividend.
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So far this fiscal year, Vedanta has declared three interim dividends, with amounts of Rs 20, Rs 4, and Rs 11 per equity share. The most recent dividend, a Rs 20 per share, was approved on September 2, 2024, totaling Rs 7,821 crore.
Earlier in the fiscal year, the company announced a second interim dividend of Rs 4 per equity share in July, amounting to ₹1,564 crore, following the first interim dividend of Rs 11 per share.
The scrip fell as much as 1.67% to Rs 489.15 apiece. It pared losses to trade 0.59% lower at Rs 494.50 apiece, as of 09:58 a.m. This compares to a 0.27% advance in the NSE Nifty 50 index.
It has risen 125.85% in the last 12 months. Total traded volume so far in the day stood at 0.21 times its 30-day average. The relative strength index was at 58.
Out of 14 analysts tracking the company, eight maintain a 'buy' rating, five recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 0.8%
