https://www.miningweekly.com

Vedanta dividend payout hits record

13th March 2018

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – LSE-listed Vedanta Resources’ subsidiary Vedanta Limited on Tuesday declared a record interim equity dividend of $1.2-billion.

Vedanta Resources would receive $600-million of this dividend, the company said, sending its shares in London up 2.6% to £7.82 a share.

The board of Vedanta Limited has approved an interim dividend of 21.20 rupees a share, for a payout of 78.81-billion rupees – the highest-ever dividend payout by the company in a financial year.

The board also approved a dividend of 7.5% a year on preference shares, taking the total amount of its dividend payout to both its equity and preference shareholders to 80.91-billion rupees.

Meanwhile, Vedanta said that UK Sinha has been appointed executive director of Mumbai-based Vedanta Limited with effect from Tuesday. Sinha was previously the chairperson of the Securities and Exchange board of India.

“In the current environment, with greater emphasis on disclosure and governance for corporate India, I am glad to contribute to Vedanta Limited achieving greater levels in its corporate governance practices,” Sinha said in a statement.

Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION