Vedanta board to meet this week to consider dividend

On October 10, Vedanta Ltd announced that its voluntary delisting offer had failed at the reverse book building stage

Mining conglomerate Vedanta Ltd on Thursday said its board will meet this week to consider and approve the first interim dividend for the current financial year.

The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, October 31, 2020, Vedanta Ltd said in a regulatory filing.

"The Board of Directors of the company on Saturday, October 24, 2020, will consider and approve the first interim dividend on equity shares, if any, for the financial year 2020-21," the company added.

On October 10, Vedanta Ltd announced that its voluntary delisting offer -- to acquire the balance shareholding in Mumbai-listed Vedanta Ltd and then delisting it from the stock exchange -- had failed at the reverse book building stage.

Also read: Vedanta delisting fails, to return tendered shares

The total number of shares tendered by Vedanta Ltd's public shareholders fell seven per cent short of the mandatory minimum 90 per cent for successful delisting.

Earlier this week, Vedanta Group firm Hindustan Zinc Ltd (HZL) had declared its highest interim dividend in 12 years at Rs 21.3 per share. The record date for paying the dividend is October 28. Hindustan Zinc had paid a higher dividend of Rs 30 per share in July 2008.