The record date for the dividend payment worth ₹4,089 crores has been fixed as December 27.
AMN
Mining and metals major Vedanta Ltd on Monday approved an interim dividend of ₹11 per equity share i.e. 1100% on the face value of ₹1 per equity share for the Financial Year 2023-24. The record date for the dividend payment worth ₹4,089 crores has been fixed as December 27.
“The Board of Directors of the Company, in its meeting held today i.e., on Monday, December 18, 2023, has approved the Second Interim Dividend of ₹ 11/- per equity share. The record date for payment of dividend shall be Wednesday, December 27, 2023,” the company said in its stock exchange filing.
Vedanta shares have soared by nearly 4 per cent since the company declared of announcing interim dividend on December 14. Earlier, the Anil Agarwal-led company had announced its first interim dividend of ₹18.50 per share in May this year.
In another development, Vedanta’s committee of directors will consider the proposal for issuance of Non-Convertible Debentures (NCDs) on a private placement basis in its meeting going to take place on Tuesday. The issuance of NCDs is also a part of the company’s routine refinancing undertaken in the ordinary course of business.
“The company proposes to hold a meeting of its duly constituted Committee of Directors on Tuesday, December 19, 2023, to consider the proposal for issuance of NCDs on a private placement basis,” Vedanta said in a filing to BSE.
Recently, Vedanta Resources Ltd (VRL) — the UK-headquartered parent company of Vedanta group), secured a $1.25 billion loan from private credit lenders to refinance/repay part of the $3.2 billion debt maturing in 2024 and 2025.