Representative image showing Vedanta building in Mumbai.
Credit: Reuters Photo
New Delhi: Vedanta on Monday said its board has approved a second interim dividend of Rs 11 per equity share for the current fiscal amounting to Rs 4,089 crore.
The record date for the purpose of payment of dividend is December 27, the company said in a filing to the BSE.
"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. 1100 per cent on face value of Rs 1 per equity share for the financial Year 2023-24 amounting to c. Rs 4,089 crore," the filing said.
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 will 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.