Vedanta to consider second interim dividend for FY22
Premium- The record date for the second interim dividend, if declared, is fixed on 18 December
Anil Agarwal-led Vedanta today said it would consider second interim dividend for the current financial year on Saturday, 11 December, and the record date is fixed as 18 December.
On Wednesday, Vedanta shares were down 0.62% to close at ₹342 apiece on NSE.
"Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the Board of Directors of the Company (the “Board") on Saturday, December 11, 2021, will consider and approve Second Interim Dividend on equity shares, if any, for the Financial Year 2021-22," Vedanta said in a statement.
So far, Vedanta shares have given multi-bagger returns to investors with the scrip surging by a massive 113.22% in 2021 (Year-to-Date) period.
Vedanta has recently unveiled plans for a complete overhaul of the corporate structure and the company said it was planning to list its aluminium, iron and steel, and oil and gas businesses as separate entities.
The strategic objectives outlined by the Board for undertaking such an exercise are simplification and streamlining of corporate structure, unlocking value for all stakeholders, and creation of businesses which are positioned better to capitalize on their distinct market positions and deliver long-term growth and enable strategic partnerships.
Vedanta has also appointed various advisors to assist the Board in evaluating the options.
“Over the past few years, the group has materially improved the operational performance of the businesses, increased cash flows, reduced debt whilst concomitantly focusing on accelerating investments in energy transition, health and safety, diversity and ESG in general," Vedanta Chairman Anil Agarwal has said earlier.
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"This step, which we announced today, whilst pending a detailed evaluation, is designed to create independent, industry-leading, global public companies, where each can benefit from greater focus, tailored capital allocation, and strategic flexibility to drive long-term growth and value for customers, investors, and employees," Agarwal further said.
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