Vedanta experienced a 3 percent uptick on December 14, fueled by the announcement that its board is set to deliberate and endorse the second interim dividend for the fiscal year 2024 on December 18. Earlier in May, the company had declared its initial interim dividend at Rs 18.50 per share.
The dividend payout by Vedanta has witnessed a substantial increase in recent years. In FY23, Vedanta disbursed a total dividend of Rs 37,572 crore, marking a significant rise from Rs 16,689 crore in FY22 and Rs 3,519 crore in FY21.
Concerns have arisen regarding potential delays in refinancing the impending debt maturities of the parent company, Vedanta Resources (VRL), with possibilities of extending beyond the projected timelines. Reports suggest that VRL has successfully secured $1.25 billion from private credit lenders for debt refinancing and a new credit facility.
As of 2:46 pm, the shares were trading 2.85% higher on BSE at ₹254.25.
