Stock to watch: Vedanta shares in focus next week as board to consider fourth interim dividend on Oct 8

Shares of Anil Agarwal-led Vedanta are likely to remain in focus in the upcoming week as the company had recently announced that it will be considering and approving fourth interim dividend for FY25 in its upcoming board meeting, to be held on October 8.

“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 Tuesday, October 08, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25,” the company said in a filing to the exchanges.

The company also informed that in case the said dividend is declared, the record date for determining the eligibility of the shareholders will be October 16.

In the past 12 months, Vedanta has declared equity dividends amounting to Rs 46 per share and at the current share price of Rs 508.70, the company’s dividend yield is 9.04%, according to the data available on Trendlyne.

Also read: Risk reward unfavourable for IT stocks, says Investec

The metal major Vedanta on Friday announced that the company has achieved its highest-ever quarterly and half-yearly aluminium production of 1205 kt in the first half of the financial year.

The company’s alumina production has also jumped 21% on a year-on-year basis (YoY).

Vedanta also announced that the company witnessed its highest-ever second quarter mined and refined metal production in Zinc India. The company recorded a new high for mined metal while the production of refined metal increased by 5% YoY to 524 kt in the first half of the year.

The shares of Vedanta closed flat on Friday at Rs 508.90 on BSE.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)