Vedanta on Saturday rewarded shareholders with its second interim dividend for this fiscal. The Anil Agarwal-led firm approved a pay-out of Rs 13.50 per share, amounting to Rs 5,019 crore.

In a regulatory filing on Saturday, Vedanta said the record date for the purpose of payment of dividend is December 18 and that it will be paid within stipulated timelines as prescribed under law.

The good news to its shareholders comes just days after the board of directors of its arm Hindustan Zinc announced an interim dividend of Rs 18 per share, amounting to Rs 7,605.57 crore. Vedanta holds around 64.92 per cent in Hindustan Zinc.

It was in September that the board of Vedanta had approved the first interim dividend for this fiscal of Rs 18.50 per share, amounting to Rs 6,877 crore.
Shares of Vedanta ended at Rs 349.75 on the BSE on Friday — a gain of around 0.36 per cent over the last close. Its shares have risen by almost 143 per cent in a year.

Vedanta was in the news recently after it announced plans to restructure its businesses. The move may see the de-merger and listing of its aluminium, iron & steel and oil and gas businesses.

These businesses had a combined turnover of around Rs 18,000 crore in the quarter ended September 30, 2021 of the total revenues of Rs 30,048 crore. The cash and cash equivalents during the period stood at Rs 30,650 crore.

The company had said that considering the scale, nature, and potential opportunities for various business verticals, it should undertake a comprehensive review of the corporate structure and consider a full range of options and alternatives, including demerger, spin-off, strategic partnerships.

It had disclosed that the main intention behind the latest exercise was to simplify and streamline the corporate structure, unlock value for all stakeholders and create businesses which are positioned better to capitalise on their distinct market positions and deliver long-term growth and enable strategic partnerships.

In this regard, the company constituted a committee of directors to evaluate and recommend options and alternative. The board also appointed various advisers to assist it in evaluating the options. If the de-merger plans work out, Vedanta Ltd may then become a holding company.

Bonanza

First interim dividend: Rs 18.50 per share, amounting to Rs 6,877 crore. Announced in Sept

Second interim dividend: Rs 13.50 per share, amounting to Rs 5,019 crore. Record date: December 18