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3h ago

Vedanta Approves Rs 16 Second Interim Dividend With Aug. 27 Record Date

Regulatory scrutiny of its demerger continues after the tribunal moved the next hearing to September 17.

Vedanta declares second interim dividend of Rs 16 per share; details here

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.