Vedanta Limited, the billion-dollar company led by Anil Agarwal, has established a reputation for consistently rewarding its shareholders with dividends. In the latest financial year, the conglomerate declared an equity dividend of 10,150 percent, translating to Rs 101.5 per share at a face value of Rs 1.
Despite a decline in overall expenses, Vedanta Limited reported an 18.30 percent drop in consolidated net profit for the December 2023 quarter, amounting to Rs 2,013 crore compared to Rs 2,464 crore in the same quarter of the previous year. Despite this setback, the company managed to increase its consolidated revenue from operations by 3.76 percent, reaching Rs 34,968 crore.
Vedanta Limited continues to maintain a high dividend yield, with a five-year average that is ten times higher than that of Nifty 50 companies. In its recent quarterly earnings report, the Chief Financial Officer, Ajay Goel, announced a dividend of Rs 11 per share for the quarter, totaling Rs 4,089 crore. This commitment to providing attractive returns to its shareholders reflects the company’s dedication to value creation.
Looking back at the dividend history of Vedanta Limited, they paid a cumulative dividend of Rs 101.5 per share for the financial year ending March 2023. With the current share price at Rs 263.55, this equates to a dividend yield of 38.5 percent. Throughout the year, the company distributed five interim dividends: Rs 20.50, Rs 12.50, Rs 17.50, Rs 19.50, and Rs 31.50.
In December, Vedanta Limited declared its second interim dividend for the financial year 2024. The company intends to distribute a dividend of Rs 4,089 crore to eligible shareholders and has announced the record date for the same.
Despite the decline in profit, Vedanta Limited’s dedication to consistently rewarding shareholders with substantial dividends showcases its commitment to maximizing shareholder value. Investors and market participants will continue to monitor the company’s financial performance and dividend payouts in the coming quarters. Please note that this article is for informational purposes only and should not be regarded as investment advice. It is recommended that readers consult with their financial advisors before making any investment decisions.
FAQ Section:
1. What was the equity dividend declared by Vedanta Limited in the latest financial year?
– Vedanta Limited declared an equity dividend of 10,150 percent, translating to Rs 101.5 per share at a face value of Rs 1.
2. Did Vedanta Limited report an increase or decrease in consolidated net profit for the December 2023 quarter?
– Vedanta Limited reported an 18.30 percent drop in consolidated net profit for the December 2023 quarter, amounting to Rs 2,013 crore compared to Rs 2,464 crore in the same quarter of the previous year.
3. Did Vedanta Limited manage to increase its consolidated revenue from operations in the December 2023 quarter?
– Yes, Vedanta Limited managed to increase its consolidated revenue from operations by 3.76 percent, reaching Rs 34,968 crore.
4. How does Vedanta Limited’s average dividend yield compare to that of Nifty 50 companies?
– Vedanta Limited maintains a high dividend yield, with a five-year average that is ten times higher than that of Nifty 50 companies.
5. What was the dividend announced by Vedanta Limited in its recent quarterly earnings report?
– Vedanta Limited announced a dividend of Rs 11 per share for the quarter, totaling Rs 4,089 crore.
Key Terms/Jargon:
– Equity dividend: The distribution of a company’s profits to its shareholders in the form of dividend payments on their shares of stock.
– Consolidated net profit: The overall net profit of a company that includes the profits of all its subsidiaries and divisions.
– Face value: The nominal value of a security as stated on the instrument.
– Dividend yield: The ratio of the annual dividend per share to the market price per share, expressed as a percentage.
Suggested Related Links:
– Vedanta Limited Official Website
– Vedanta Limited Financial Ratios