Vedanta Ltd (VEDL) Raises Dividend to $1.30 Per Share

Vedanta Ltd (NYSE:VEDL) announced an annual dividend on Wednesday, March 14th, Wall Street Journal reports. Stockholders of record on Friday, March 23rd will be paid a dividend of 1.3038 per share by the basic materials company on Tuesday, April 17th. This represents a dividend yield of 6.65%. The ex-dividend date is Thursday, March 22nd. This is a positive change from Vedanta’s previous annual dividend of $0.09.

Shares of Vedanta (VEDL) traded down $0.04 on Wednesday, hitting $19.62. The stock had a trading volume of 293,113 shares, compared to its average volume of 564,264. Vedanta has a 1 year low of $13.78 and a 1 year high of $21.99. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $14,460.30, a P/E ratio of 15.54 and a beta of 1.84.

Separately, JPMorgan Chase & Co. upgraded Vedanta from a “neutral” rating to an “overweight” rating in a research note on Monday, February 5th.

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About Vedanta

Vedanta Limited is a natural resource company engaged in the business of manufacturing copper and copper products, and aluminum and aluminum products. The Company’s segments include Copper, which consists of manufacturing of copper cathode, continuous cast copper rod and anode slime, including from purchased concentrate and manufacturing of precious metal from anode slime, sulfuric acid, phosphoric acid; Iron ore; Aluminium, which consists of manufacturing of alumina and various aluminum products; Power, which consists of power, including power facilities engaged in generation and sale of commercial power, and Other, which consists pig iron and metallurgical coke.

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