Vedanta, the mining and metal company, has declared an interim dividend of ₹11 per share. This translates into a total payout of ₹4,089 crore. The record date for this dividend is set as December 27. Vedanta Resources Plc, the UK-based majority shareholder, is expected to receive over ₹2,600 crore from this dividend. The company had previously announced an interim dividend of ₹18.50 per share in May. Vedanta Resources, which has debt worth $4.5 billion maturing till March 2025, was recently downgraded by S&P Global Ratings due to concerns over the extension of maturities of some of its bonds.
Hindustan Zinc, in which Vedanta owns nearly 65% stake, had announced a dividend of ₹6 per share earlier this month.
In addition to the dividend announcement, Vedanta’s board will be meeting to consider fund raising through non-convertible debentures on a private placement basis.
Shares of Vedanta ended at ₹260.70 on the National Stock Exchange on Monday, up by 1.4% from the previous close.
