Rs 20/Sh Dividend Recommended: Vedanta Shares Rally 80% YTD, CLSA Issues Call

Board of Directors of Vedanta Limited on September 2, 2024 recommended third interim dividend of Rs 20/- per equity share on the face value of Re 1/- per equity share for the financial year 2024-25 amounting to Rs 7821 crores. Vedanta on August 28 already fixed September 10, 2024 as the record date for third interim dividend. Last trading price of Vedanta Limited shares on BSE is Rs 463.30 per share. Vedanta Limited has a market capitalisation of Rs 1,81,168.28 crore. Vedanta shares offered 96% in last 1-year and gained 232% in last 5-years. Check details below:

Vedanta Recommends Dividend: As per the regulatory filing of Vedanta issued on September 2, 2024, "we wish to inform you that the Board of Directors of Vedanta Limited (the "Company"), at its meeting held today i.e. Monday, September 02, 2024, has considered and approved the Third Interim Dividend of Rs 20/- per equity share on face value of Re 1/- per equity share for the Financial Year 2024-25 amounting to Rs 7,821 Crores."

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."

How To Be Eligible For Vedanta Dividend? Record date holds significance in announcing eligibility of shareholders for dividend and bonus share. Shareholders whose name appear in company's shareholders record as on the record date will become eligible to receive dividend income and bonus share. Record date is the specific day on which a company confirms the list of shareholders eligible for its dividend distribution and bonus shares. Vedanta fixed September 10, 2024 as the record date for third interim dividend.

Vedanta Limited Shares Performance & Returns: 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 gained 70% in last 6-months, surged 96% in last 1-year, offered return of 80% in last 2-years, and rose 51% in last 3-years.

Vedanta Dividend History: Vedanta announced 44 dividends since July 23, 2001. In last 1-year, Vedanta declared an equity dividend amounting to Rs 26.00 per share. At the current share price of Rs 463.30, Vedanta offers a dividend yield of 5.61%.
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.