Vedanta, a major company, is making headlines as its board has approved a new dividend of Rs 8.5 per share for the financial year 2024-2025. This means that the total payout will be around Rs 3,324 crore! The date for shareholders to qualify for this dividend is set for December 24, 2024.
On Monday, Vedanta’s share price closed at Rs 513.50 on the NSE, which was a drop of Rs 6 or 1.15% from the last trading day. So far in the financial year 2025, Vedanta has given out a dividend totaling Rs 35 per share. Over the past year, this adds up to Rs 46 per share in total dividends.
The last time Vedanta paid a dividend was Rs 20 per share on September 10, 2024. This followed dividends of Rs 4 on August 2, 2024, and Rs 11 on May 24, 2024.
In its latest financial report, Vedanta announced a profit of Rs 5,603 crore for the three months ending in September 2024. This is a huge improvement compared to a loss of Rs 915 crore during the same time last year! However, their revenue decreased by 4% year-on-year, totaling Rs 37,171 crore, down from Rs 38,546 crore last year.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for this period were Rs 9,828 crore, with profit margins at 26.1%. Vedanta also achieved record-high aluminum production of 609 kilotonnes in the second quarter, which is a 3% increase from last year. The cost of producing aluminum fell by 4% to $1,734 per tonne, while alumina production rose by 8% to 499 kilotonnes.
Arun Misra, the Executive Director of Vedanta, said that the second half of this year will be exciting as important growth projects are getting ready to start.
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