Vedanta to pay second interim dividend of Rs 13.50 per share

Mining giant Vedanta on Saturday said its board has approved second interim dividend of Rs 13.50 per equity share for financial year 2021-22, which will cost Rs 5,019 crore.

"...we wish to inform you that the Board of Directors of the company through resolution passed by circulation on Saturday, December 11, 2021 have approved Second Interim Dividend of Rs 13.50 per equity share i.e. 1,350 per cent on face value of Re 1/- per share for the Financial Year 2021-22 amounting to Rs 5,019 crores," the company said in a BSE filing.

The record date for the purpose of payment of dividend is December 18, 2021 and the dividend will be paid within stipulated timelines as prescribed under law, it added.

Last month, the company had said that it has decided to set up a new board to undertake a comprehensive review and evaluate options of demergers, spin-offs, and strategic partnerships to unlock value and simplify its corporate structure.

The new committee of directors will evaluate and recommend options and alternatives to the Board of Directors.

"Subject to a detailed evaluation, it is the intention that the Aluminium, Iron & Steel, and Oil & Gas businesses would be housed in standalone listed entities," the company had said in a statement.

Shares of Vedanta on Friday ended 0.36 per cent higher at Rs 349.75 on the BSE.
 
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