Vedanta’s board of directors has approved a second interim dividend of Rs 11 per equity share aggregating to Rs 4,089 crore for the current financial year 2023-24. The record date for the purpose of dividend payment has been fixed as December 27, according to a regulatory filing.
“The board of directors of the company, in its meeting held today… i.e has approved the second interim dividend of Rs 11 per equity share i.e. 1,100 per cent on face value of Rs 1 per equity share for the financial Year 2023-24 amounting to Rs 4,089 crore,” Vedanta said in the BSE filing.
Vedanta Resources Ltd, the UK-headquartered parent company of Vedanta group, had last week said it has 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, but this did not prevent S&P Global from downgrading its ratings.
Vedanta Resources had said the fundraising would help “create a long-term sustainable capital structure” and demonstrate its continued ability to access global capital markets and investor confidence in the underlying business.
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