Vedanta Board To Meet This Week To Consider Dividend
Bound aluminium ingots sit in the cast house unit of the Vedanta Ltd. Aluminium Smelter in Jharuguda district, Odisha, India. (Photographer: Dhiraj Singh/Bloomberg)

Vedanta Board To Meet This Week To Consider Dividend

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Mining conglomerate Vedanta Ltd. on Thursday said its board will meet this week to consider and approve the first interim dividend for the current financial year.

“The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, October 31, 2020,” the company said in a regulatory filing.

"The Board of Directors of the company on Saturday, October 24, 2020, will consider and approve the first interim dividend on equity shares, if any, for the financial year 2020-21," the company added.

On October 10, Vedanta announced that its voluntary delisting offer -- to acquire the balance shareholding in the Mumbai-listed Vedanta Ltd., and then delisting it from the stock exchange -- had failed at the reverse book building stage.

The total number of shares tendered by Vedanta Ltd.'s public shareholders fell 7% short of the mandatory minimum 90% for successful delisting.

Earlier this week, Vedanta Group firm Hindustan Zinc Ltd. had declared its highest interim dividend in 12 years at Rs 21.3 per share. The record date for paying the dividend is October 28. Hindustan Zinc had paid a higher dividend of Rs 30 per share in July 2008.

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