Mon Dec 16 12:50:28 UTC 2024: ## Vedanta Declares Rs 3,324 Crore Interim Dividend; Shares Dip Despite 2024 Gains

**Mumbai, India** – Mining giant Vedanta Limited announced a fourth interim dividend of Rs 8.5 per share, totaling Rs 3,324 crore, for the fiscal year 2024-25. This brings the company’s total dividend payout for FY25 to Rs 16,799 crore, reflecting strong financial performance. The record date for the dividend payment is December 24, 2024.

Despite the dividend announcement, Vedanta’s shares closed 1.15% lower on December 16th. However, the stock has nearly doubled in value in 2024, pushing its market capitalization beyond Rs 1.9 lakh crore. This positive trend follows a strong Q2 performance, reporting a net profit of Rs 4,352 crore, boosted by higher metal revenue and a write-back. The company’s net debt also decreased to Rs 56,927 crore, a reduction of Rs 4,400 crore from the previous quarter.

Vedanta’s financial health has been further strengthened by recent developments, including an Rs 8,500 crore capital raise through a Qualified Institutions Placement (QIP) and an upgrade of its corporate family rating by Moody’s. The release of encumbered shares held by group subsidiaries also contributed to significant deleveraging at the group level. CFO Ajay Goel previously stated that these measures will ensure the company’s future self-funding.

The news comes amidst other market updates including details on the Traders Gurukul’s “India’s Largest Regional Retail Option Traders Summit (BOTS),” and a mention of live market data and information available on Moneycontrol.

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