Vedanta Declares Record Equity Interim Dividend of Rs. 7,881 Crore

MUMBAI, India, March 13, 2018 /PRNewswire/ -- 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.

Vedanta Limited announced that the Board of Directors in their meeting held on March 13, 2018 approved the appointment of Mr. U.K. Sinha as a Non-Executive Independent Director with effect from close of business hours on March 13, 2018.

Mr. Sinha who has earlier served as the Chairman of Securities and Exchange Board of India (SEBI) from February 2011 to March 1, 2017 has been instrumental in bringing about key capital market reforms. Under his leadership, SEBI introduced significant regulatory amendments to the various acts enhancing corporate governance and disclosure norms. Prior to SEBI, he was the Chairman & MD of UTI Asset Management Company Pvt. Ltd. and has also worked for Department of Economic Affairs at Ministry of Finance.

Speaking on the development, Mr. Navin Agarwal, Chairman Vedanta Limited, said, "We warmly welcome Mr. UK Sinha on the Board. Mr. Sinha is an architect of strong regulatory regime for India's capital markets. As a corporate with highest standards of corporate governance and ethics, we believe, this will be a befitting association."

Mr. U.K. Sinha said "In the current environment, with greater emphasis on disclosure and governance for corporate India, I am glad to contribute to Vedanta Limited achieving greater levels in its corporate governance practices"

Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power. It has a portfolio of world-class, low-cost, scalable assets.

Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. The company is in the Nifty 50 Index and has ADRs listed on the New York Stock Exchange.

About Vedanta Limited

Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power. The company has a presence across India, South Africa and Namibia. Vedanta Ltd has a portfolio of world-class, low-cost, scalable assets that consistently generate strong profitability and have robust cash flows. The company holds industry-leading market shares across its core divisions.

Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2017, please visit http://sd.vedantaresources.com/SustainableDevelopment2016-17/

Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. The company is in the Nifty 50 Index and has ADRs listed on the New York Stock Exchange.

For more information please visit www.vedantalimited.com

Vedanta Limited
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
www.vedantalimited.com

Registered Office:
Regd. Office: 1st Floor, 'C' wing, Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093
CIN: L13209MH1965PLC291394

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.

For further information, please contact:

Communications
Arun Arora
Head Communications
Tel: +91-1244593000
gc@vedanta.co.in  

Investor Relations 
Rashmi Mohanty
Director – Investor Relations
Tel: +91-22-6646-1531
vedantaltd.ir@vedanta.co.in  

Aarti Raghavan
VP – Investor Relations

Sneha Tulsyan
Associate Manager – Investor Relations