Vedanta Dividend, Yield 5.58%: Board Set To Consider Dividend In Sept, Should You Buy?

Board of Directors of Vedanta Limited are planning to meeting on September 2, 2024 to consider and approve the third interim dividend on equity shares for the financial year 2024-25. The company fixed September 10, 2024 as the record date, if declared. Current market price of Vedanta shares on BSE is Rs 467.30 per shares gain of 0.31% in trade today at the time of writing the story. Vedanta Limited shares offered return of 97% in last 1-year and 74% in last 6-months. The company's market capitalisation stood at Rs 1,82,732.43 crore. Check key details below:

Vedanta Limited To Consider Interim Dividend: As per the regulatory filing of Vedanta dated August 28, 2024, "Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the meeting of the Board of Directors of the Company (the "Board") is proposed to be scheduled on Monday, September 02, 2024, to consider and approve the Third Interim Dividend on equity shares, if any, for the Financial Year 2024-25."

Vedanta Limited Sets Record Date For Interim Dividend: The BSE filing added, "Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Tuesday, September 10, 2024."

Vedanta Limited Shares Performance & Returns Over Years: The 52-week high price of Vedanta Limited share on BSE is Rs 506.85 apiece (as on 22/05/2024) and 52-week low price is Rs 207.85 per share (as on 28/09/2023). Vedanta shares zoomed 11.25% in last 2-weeks, soared 81% so far this year, jumped 76% in last 2-years, and offered attractive returns of 244% in last 5-years.

Vedanta Limited Dividend History: Vedanta announced 43 dividends since July 23, 2001. In last 1-year, Vedanta announced an equity dividend amounting to Rs 26.00 per share. At the current share price of Rs 467.30, Vedanta offers a dividend yield of 5.58%.

Should You Buy Vedanta Shares? Leading foreign brokerage firm CLSA issued an 'Outperform' call to Vedanta Limited shares and fixed a target price of Rs 520 per share. Despite Vedanta's underperformance as compared to peers, CLSA expects that this trend will reverse soon. According to the analysts at CLSA, latest corporate actions by Vedanta, including stake sales in Hindustan Zinc and dividends from Hindustan Zinc, are likely to assist in bringing down Vedanta's debt. CLSA prefers base metal stocks over ferrous metal stocks and believes that Vedanta is well-positioned in this regard.

Vedanta Shareholding Pattern: Promoters have decreased holdings from 61.95% to 59.32% in June 2024 quarter. FII/FPI have increased holdings from 8.77% to 10.23% in June 2024 quarter. Number of FII/FPI investors increased from 674 to 787 in June 2024 quarter. Mutual Funds have increased holdings from 3.55% to 5.34% in June 2024 quarter. Number of MF schemes increased from 31 to 32 in June 2024 quarter, according to Trendlyne. Meanwhile, Life Insurance Corporation Of India (LIC) has 7.72% stake in Vedanta with 301,795,347 shares of the company.

Vedanta Bonus Share History: Vedanta recommended 2 bonus issues since February 16, 2005. The last bonus issue that Vedanta declared was in the ratio of 1:1 with ex-date fixed as August 8, 2008.

Vedanta Stock Split History: Vedanta split the face value of its share once since August 8, 2008. Vedanta last split the face value of its shares from Rs 10 to Re 1 in 2008. Vedanta share traded ex-split as on August 8, 2008.

Disclaimer:

The stock has been picked from the brokerage report of CLSA. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.