Vedanta has informed the exchanges that its board at a meeting held on September 1 declared Interim Dividend of Rs 18.5 per equity share.
Vedanta
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Vedanta share price was up over a percent in the morning session on September 2, a day after the company announced interim dividend.
The mining major announced a first interim dividend of Rs 18.50 per share. The decision was confirmed at the meeting of Board of Directors held on September 1, the company said in a regulatory filing.
“Vedanta has informed the Exchange that Board of Directors at its meeting held on September 01, 2021, declared Interim Dividend of Rs 18.5 per equity share,” the National Stock Exchange of India (NSE) noted.
Earlier, in a regulatory filing submitted before the Bombay Stock Exchange (BSE), Vedanta said that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend “is being fixed as Thursday, September 9, 2021”.
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The stock was trading at Rs 303.20, up Rs 5.25, or 1.76 percent. It has touched an intraday high of Rs 305.40 and an intraday low of Rs 300.
Last week, Moody’s Investors Service has said it has upgraded Vedanta’s senior unsecured notes to ‘B3’ from ‘Caa1’. It has affirmed holding company Vedanta Resources Ltd’s (VRL) B2 corporate family rating, Moody’s Investors Service has said in a statement.
Moody’s has also changed the outlook on all ratings to ‘stable’ from ‘negative’. “Moody’s has upgraded to ‘B3’ from ‘Caa1’, its rating on the senior unsecured notes issued by VRL and those issued by VRL’s wholly-owned subsidiary, Vedanta Resources Finance II Plc and guaranteed by VRL,” Moody’s Vice-President and Senior Credit Officer Kaustubh Chaubal said.
Vedanta share price was under pressure after the Madras High Court issued notice to the company on remediation of contaminated sites at Tuticorin unit.
The Madras HC issued a notice on remediation of contaminated sites at Tuticorin unit after a PIL was filed against the company, reported CNBC-TV18. The PIL demands Vedanta to remove all contaminated material within Sterlite copper plant.
The company has been given five weeks to respond to notice and the matter is listed for late September.
