Home Stock Market Vedanta board approves interim dividend of Rs 9.50 per share

Vedanta board approves interim dividend of Rs 9.50 per share

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MUMBAI: Anil Agarwal-led Vedanta on Saturday mentioned its board authorised first interim dividend of Rs 9.50 per share for the present fiscal 12 months.

The whole dividend payable by Vedanta would quantity to Rs 3,500 crore and the report date set for the fee of dividend is October 31.

The corporate has drawn shareholders’ ire of late for not passing on the dividend of Rs 4,500 crore it acquired from subsidiary Hindustan Zinc (HZL) in Might.

Hindustan Zinc paid interim dividend of Rs 6,972 crore for FY20 on Might 19. The corporate additionally introduced interim dividend of Rs 9,000 crore for FY21 on October 16, which will likely be paid on the finish of this month.

Vedanta’s share in HZL’s dividend payouts quantities to Rs 10,369 crore as the previous holds 64.92 per cent stake within the latter.

The corporate has been in focus not too long ago, as earlier this month, its promoters didn’t garner the required variety of shares to delist. The whole variety of shares tendered by Vedanta’s public shareholders fell 7 per cent in need of the obligatory minimal 90 per cent for profitable delisting.

Forward of the announcement, shares of Vedanta closed 0.29 per cent increased on Friday, whereas benchmark Sensex rose 0.31 per cent to 40,685.60. The inventory superior in all of the classes final week, and rose 10.32 per cent throughout the interval.

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