After Failed Delisting, Vedanta Board Approves Interim Dividend

On Saturday, Vedanta Limited said in a stock exchange filing that its board has approved its first interim dividend of Rs 9.50 per equity share, that is 950% on the face value of one rupee per share, for the financial year 2020-21, amounting to Rs 3,500 crore.

"The record date for the purpose of payment of dividend is Saturday, October 31, 2020. The interim dividend will be paid within stipulated timelines as prescribed under law," the company added.

On 10 October, the company had informed that its delisting has deemed to have failed on receiving insufficient confirmed bids.

Shares of the Vedanta have corrected since the announcement but on revived this week after its subsidiary Hindustan Zinc announced a dividend payout of Rs 21.30 per share.

Shareholders of Vedanta were looking forward to the dividend being passed on as per its dividend distribution policy.