The record date for dividend has been fixed 31 October 2020 De-listing has failed due to a reduction in share tendering
The board of Vedanta Limited has approved the first interim dividend for FY 2021. The company has announced a dividend of Rs 9.50 per equity share. The company will spend 3500 crores on this. A record date has been set on October 31 to select eligible investors for the dividend.
950% of face value will be given dividend
Exchange information given by Anil Agarwal’s company Vedanta said that Vedanta’s board of directors met on Saturday. A proposal to give a dividend of Rs 9.50 per equity share was passed in the meeting. On September 30, Vedanta had 274.31 crore shares of Hindustan Zinc. This amounts to a 64.92 per cent stake. The amount of these shares is about 5843 crores.
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Hindustan Zinc will give a dividend of Rs 21.30 per share
Hindustan Zinc had announced a dividend of Rs 21.30 per equity share last week. About 9 thousand crores will be spent on this. Vedanta holds 64.92 per cent stake in Hindustan Zinc. Due to this, most of the dividend will go to Vedanta Limited.
Vedanta has failed in de-listing
Vedanta Limited had earlier this month brought an offer to be de-listed from the stock market. But this de-listing had failed due to no fixed number of share tenders. Only 125.47 crore shares were tendered in the offer against the 134 crore shares required for de-listing. The promoters of Vedanta want to buy 169.72 crore or 47.67 per cent stake in the company for de-listing.
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Vedanta shares rose 10 percent in a week
After the de-listing fails, Vedanta shares have been steadily rising. The company’s shares have gained 10.31 per cent in the last one week. On 16 October, Vedanta shares closed at Rs 95 per piece. After this, it has reached Rs 104.80 per share in five trading days.
