Why is Vedanta paying so much dividend? (2024)

Why is Vedanta paying so much dividend?

Vedanta resources has a debt of approx. $16 billion that is why their balance sheet is not performing well so they are withdrawing money from their subsidiaries to maintain their balance sheet. That is why Hindustan zinc and vedanta Ltd both paying massive dividend since last two years.

Why Vedanta gives so much dividend?

Unfortunately, Vedanta Resources Limited, the parent company, heavily relies on dividends from Vedanta Ltd. This dependency is the reason why Vedanta's dividend yield is 40%. In March 2022, Vedanta Resources Limited carried a massive debt load of over ₹1.1 lakh crore.

What is the extraordinary dividend of Vedanta?

The board of Vedanta Ltd on Monday approved the second interim dividend of Rs 11 per equity share. The dividend is equivalent to 1100% on face value of Rs 1/- per equity share for the financial year 2023-24 which amounts to Rs 4,089 crore.

What is the record date for Vedanta dividend 2024?

"The record date for the purpose of payment of dividend shall be December 27, 2023 and the interim dividend shall be duly paid within the stipulated timelines as prescribed under law," the filing added.

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Will Vedanta give dividend in 2024?

Vedanta Ltd has declared dividend 2 times of ₹29.50 in the previous financial year (FY2023-2024)

Which is better Hindustan Zinc or Vedanta?

Vedanta Resources scored higher in 6 areas: Overall rating, Culture and values, Work-life balance, Senior management, Compensation & Benefits and Career opportunities. Hindustan Zinc Limited scored higher in 2 areas: Recommend to a friend and Positive Business Outlook. Both tied in 1 area: Diversity and inclusion.

Should I buy Vedanta for dividend?

Vedanta share price target: Nuvama expects a dividend per share (DPS) of Rs 40 each in FY25E and FY26E. For now, the brokerage has reiterated its 'BUY' rating on the Vedanta stock with a revised target price of Rs 394 from Rs 371 earlier.

What is Vedanta target price?

Vedanta Ltd. has an average target of 248.07. The consensus estimate represents a downside of -35.72% from the last price of 385.95. View 8 reports from 3 analysts offering long-term price targets for Vedanta Ltd..

How many times Vedanta split?

Vedanta stock (symbol: VEDL. NS) underwent a total of 2 stock splits. The most recent stock split occured on August 8th, 2008. One VEDL.

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What is the target price of Vedanta in 2024?

Is Vedanta approved for interim dividend?

“The Board of Directors of the Company, in its meeting held today i.e., on Monday, December 18, 2023, has approved the Second Interim Dividend of ₹ 11/- per equity share. The record date for payment of dividend shall be Wednesday, December 27, 2023," the company said in its stock exchange filing.

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Is Vedanta a buy or sell?

Global brokerage CLSA earlier upgraded its rating on Vedanta to 'BUY' from earlier 'Reduce'. While maintaining a positive outlook, the brokerage also raised its target price on Vedanta to Rs 390 per share. For FY24, Vedanya posted the highest-ever cast metal aluminium production of 2,370 kt at its smelters up 3% YoY.

What is the share price target for Vedanta in 2050?

What is the Vedanta Share Price Target 2050? Vedanta Share Price Target 2050 is between Rs 2,509 and Rs 1,489. What is the Vedanta Share Price Target 2023? Vedanta Share Price Target 2023 is between Rs 345 and Rs 220.

What is the future of Vedanta stock?

Vedanta shares: After ushering in the new year 2024, Vedanta share price remained in base-building mode till the middle of March 2024. However, after bottoming out at ₹250 apiece levels in mid-March, Vedanta share price has remained in an uptrend.

What is the ranking of Vedanta?

Vedanta has made significant improvements in environmental, social and governance (ESG) performance with its Dow Jones Sustainability Indices (DJSI) ranking in the metals and mining sector having risen to #12 this year, as against #21 in 2019.

Does Vedanta make copper?

Vedanta has copper smelting and mining operations across India, Australia and Zambia. 79.4% of our Zambian copper business (Konkola Copper Mines is directly owned by Vedanta Resources. The Indian and Australian copper business is directly held by Vedanta Ltd., a subsidiary of Vedanta Resources.

Is Hindustan Zinc debt free?

What Is Hindustan Zinc's Net Debt? As you can see below, at the end of September 2023, Hindustan Zinc had ₹119.6b of debt, up from ₹28.9b a year ago. Click the image for more detail. However, because it has a cash reserve of ₹112.6b, its net debt is less, at about ₹6.98b.

Is Vedanta in debt?

Gross debt as on 31 March 2022 was `53,109 crore, a decrease of `3,919 crore since March 31, 2021. This was mainly due to the repayment of debt at HZL, BALCO and CIHL partially offset by increase in borrowing at Vedanta Standalone. Gross Debt comprises term debt of c. `46,400 crore, working capital loan of c.

Why is Vedanta falling?

The rating for the Corporate Family Rating (CFR) of Vedanta Resources was also downgraded to Caa3 from Caa2, Moody's said. "We view the debt restructuring as default avoidance and assess that the creditors have incurred an economic loss with respect to the original promise.

Why Vedanta profit is falling?

The company had reported a profit of Rs 2,464 crore in the same quarter a year ago and a loss of Rs 1,783 crore in the second quarter of FY24. Vedanta's previous quarter performance was dented by exceptional expenses owing to a change in tax rates as the company shifted to a new tax regime.