Vedanta approves interim dividend of ₹11 per share; know record date (2024)

“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.

Also Read: Stocks to Watch: Lupin, PB Fintech, United Spirits, Vedanta

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.

Also Read: S&P downgrades Vedanta Resources as company initiates bond restructuring

"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.

Also Read: S&P Global Ratings downgrades Vedanta Resources' rating to 'CC': All you need to know

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.

The fundraising is a step towards enabling the company to “create a long-term sustainable capital structure" and demonstrate its continued ability to access global capital markets and investor confidence in the underlying business.lso

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Published: 18 Dec 2023, 04:04 PM IST