Vedanta – 2nd Interim Dividend Board Meeting

Author: Viceroy Research Published on: August 20, 2025 Published in: Vedanta (NSE:VEDL)

August 20, 2025 – Ahead of Vedanta Ltd’s (VEDL) Board meeting regarding its second interim dividend this Thursday, we urge shareholders and stakeholders to re-evaluate the sustainability and fairness of the Company’s dividend policy.

VEDL has four options:

Cut the dividend: The share price drops, unfairly reducing the value of shareholders’ investment and returns while VRL continues to receive increased brand fees.
Maintain the dividend: The Company continues burning cash, forcing asset sales, borrowing more, and generally deteriorating its balance sheet.
Raise the dividend: Liquidity is exhausted even faster. VEDL’s path to insolvency accelerates.
Cut brand fees: VRL loses its only steady cash inflow and collapses under its own debt.

We believe the first two options are the most likely, with minority shareholders are deprioritized to support the liquidity needs of Vedanta Resources Limited (VRL).

Vedanta’s dividends are unsustainable, brand fees are likely to remain untouched, and minority shareholders are footing the bill.

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