The board of mining major Vedanta has approved its first dividend payout of ₹7 per share for the current fiscal on June 18. With this, the company will shell out a total of ₹2,737 crore in interim dividends.
The parent company Vedanta Resources, which holds a 56.38% stake is set to pocket around ₹1,543 crore from the payout. The company has fixed June 24 as the record date for determining eligible shareholders.
The dividend approval comes on the day when Vedanta likely offloaded a 1.6% stake in its subsidiary, Hindustan Zinc, raking in ₹3,023 crore from the sale.
The stock closed around 1% lower on the National Stock Exchange on June 18.
The mining major had paid ₹17,000 crore as dividend in FY25. It had paid ₹43.5 per share as dividend. The company has cumulatively paid over ₹200 per share in the last four years as dividend.
Promoter and promoter group entities of Vedanta hold over 56% stake in the company as of March 31, according to the information available on BSE. On the other hand, public shareholding of the company stood at 43.5%.
One of Vedanta’s arms, Hindustan Zinc, had announced its first interim dividend of ₹10 per share last week, leading to Vedanta receiving close to ₹3,000 crore as a result of its near 65% stake in the subsidiary.
