News > Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds

Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds

Business Standard | 29/04/2022 12:49 PM | Click to read full article

Vedanta Ltd. will issue Rs 11,710 crore ($1.5 billion) of dividends to shareholders, triggering a rally in the bonds of its parent that will use the income to pay down debt. Vedanta will pay a dividend of Rs 31.50 a share to investors, it said in an exchange filing Thursday.

That will provide some relief to its parent Vedanta Resources Ltd., which faces a wall of maturities, beginning with a $1 billion note due in July.