Vedanta approves second interim dividend of Rs 4 per share

New Delhi: Vedanta Limited on Friday approved a second interim dividend of Rs 4 per share for the current fiscal year.

The total payment amounts to Rs 1,564 crore, Vedanta Ltd said in a filing to the BSE.

The billionaire Anil Agarwal-owned company approved the second interim dividend during the board meeting on Friday.

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"The Board of Directors of Vedanta Ltd at its meeting held today i.e. Friday, July 26, 2024, has considered and approved the second interim dividend of Rs 4 per equity share on face value of Rs 1 per equity share for the financial year 2024-25," the filing said.

Recently, mining conglomerate Vedanta Ltd raised Rs 8,500 crore (over USD 1 billion) through qualified institutions placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share.

The issue, which closed on July 19, implied a discount of 4.61 per cent on the floor price of Rs 461.26 per equity share.

Some of the marquee investors that have been allotted equity shares through the QIP include Abu Dhabi Investment Authority (ADIA), Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, ICICI Mutual Fund, Aditya Birla Mutual Fund, and Mirae Mutual Fund.

Vedanta delivered a strong financial performance and growth on multiple fronts, with many of its businesses -- aluminium, zinc, silver, steel, iron ore and ferrochrome -- achieving their highest-ever annual production levels in the last fiscal year.

For FY24, the company recorded its second-highest annual consolidated revenue of Rs 1,41,793 crore and second-highest annual EBITDA of Rs 36,455 crore.

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