Shares of Vedanta were trading lower ahead of the mining and metal major's board meeting today to consider the third interim dividend for the current financial year (2024-25). The company has set the record date for dividend on September 10, 2024. Vedanta stock fell 1.5% to Rs 461.20 in early deals against the previous close of Rs 468.25 on BSE. Market cap of the firm stood at Rs 1.81 lakh crore. A total of 1.76 lakh shares of the firm changed hands amounting to a turnover of Rs 8.19 crore on BSE. Vedanta shares have a one-year beta of 1.2, indicating high volatility during the period.
Vedanta dividend history
Vedanta cleared a second interim dividend of Rs 4 per share in July 2024. In May this year, Vedanta approved its first interim dividend of Rs 11 per share. The record date for the first interim dividend was Saturday, May 25, 2024.
Vedanta issued dividends around to Rs 101.4 per share in FY23 and Rs 29.5 per share in FY24. This amounted to stellar dividend yields for investors and Vedanta's parent (Vedanta Resources), which holds more than 56 per cent of the company's shares.
Stock movement
In terms of technicals, the relative strength index (RSI) of Vedanta stands at 61.3, signaling the stock is trading neither in the overbought nor in the oversold territory.
Vedanta shares are trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The stock has climbed 96.57% in the last one year. The stock fell to a 52 week low of Rs 207.85 on September 28, 2023 and rose to a record high of Rs 506.85 May 22, 2024.
Vedanta announced on Wednesday, August 28 that its board will meet next week to consider and approve the third interim dividend for the current financial year (2024-25). The board meeting is scheduled for September 2, and the record date for the dividend is fixed as September 10, 2024, I said.
‘’…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,'' added Vedanta in its statement.
Vedanta Ltd is a subsidiary of Vedanta Resources Ltd and has operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.