Overview
- Vedanta’s board cleared a second interim dividend of Rs 16 per share, implying an aggregate payout of about Rs 6,256 crore.
- The company set August 27 as the record date and said the payment will be completed within statutory timelines.
- This is the second payout of the fiscal after a Rs 7 per-share interim dividend in June, extending a pattern of large distributions seen last year.
- The announcement was made after market hours on Thursday, and the stock rose as much as 1.14% in Friday trade before trimming gains.
- Separately, the NCLT deferred the company’s demerger case to September 17 after the Centre alleged withheld information, revenue overstatement and concealed liabilities.