13th Mar 2018 09:01
Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
13 March 2018
Vedanta Resources plc
Updates by Vedanta Limited
Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement on declaration of interim equity dividend of INR 78.8 billion (c. $ 1.2 billion). Vedanta Plc will receive c. $0.6 billion of this announced interim dividend.
Vedanta Limited
Vedanta declares Record Equity Interim Dividend of Rs. 7,881 Crore
The Board of Directors of the Company, in the meeting held on March 13, 2018, have approved Interim Dividend of Rs. 21.20 per equity share i.e. 2120% on face value of Re .1/- per share for the Financial Year 2017-18. The record date for the purpose of payment of dividend is March 21, 2018. The total payout is Rs. 7,881 Crore, being the highest ever dividend payout by the Company in a financial year. This represents a dividend yield of c.7.20% based on the average share price of the company year to date.
Further, the Board has also approved the Dividend @ 7.5% p.a. for Financial Year 2017-18 on Preference Shares of Rs. 3,010 Crore issued and allotted on April 28, 2017 pursuant to the Scheme of Arrangement between the shareholders and creditors of Vedanta Limited and Cairn India Limited ("Scheme"). The record date for the purpose of payment of dividend to the preference shareholders is March 21, 2018.
The total amount of Dividend Payout to both its equity and preference shareholders is Rs. 8,091 Crore.
For further information, please contact:
Communications | Finsbury |
Arun Arora Head, Corporate Communications Tel: +91 124 459 3000
| Daniela Fleischmann Tel: +44 20 7251 3801 |
Investors |
|
Rashmi Mohanty Director - Investor Relations
Sunila Martis Associate General Manager - Investor Relations
Veena Sankaran Manager - Investor Relations | Tel: +44 20 7659 4732 Tel: +91 22 6646 1531 |
About Vedanta Resources
Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.com
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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Vedanta Resources