Vedanta Ltd to Consider Fourth Interim Dividend for 2024-25 on October 8

Vedanta Ltd's board will meet on October 8 to consider approving the fourth interim dividend for 2024-25. The record date is set for October 16, 2024. The company has already approved a total dividend of Rs 13,474 crore for this fiscal year. Vedanta aims to deleverage USD 3 billion debt in three years.

Mining major Vedanta Ltd announced on Wednesday that its board will convene on October 8 to deliberate and potentially approve the fourth interim dividend for the financial year 2024-25.

The necessary record date for determining the entitlement of equity shareholders, should the fourth dividend be declared, has been scheduled for October 16, 2024, according to an exchange filing by the company. So far, the mining conglomerate, helmed by Anil Agarwal, has sanctioned a total dividend disbursement of Rs 13,474 crore for 2024-25.

Previously, on September 2, Vedanta's board approved the third interim dividend of Rs 20 per share for the ongoing fiscal year, escalating the total dividend payout for FY'25 to Rs 13,474 crore. The date for the payment of the dividend was set for September 10.

On July 26, the board had approved the second interim dividend of Rs 4 per equity share for 2024-25, amounting to Rs 1,564 crore. Earlier, on May 16, the company had approved the first interim dividend of Rs 11 per equity share for FY'25, amounting to Rs 4,089 crore.

In the previous fiscal year 2023-24, Vedanta declared a total interim dividend of Rs 29.5 per share, amounting to Rs 10,966 crore.

On a broader financial strategy front, Vedanta Resources, the parent company of Vedanta Ltd, does not anticipate extending its loans and aims to reduce its debt by as much as USD 3 billion over the next three years.

(With inputs from agencies.)