NEW DELHI: Billionaire Anil Agarwal’s Indian commodities major will pay about US$476mil in dividends to investors as a potential credit ratings downgrade looms at its parent Vedanta Resources Ltd.
Vedanta Ltd approved a dividend of 9.50 rupees a share amounting to 35 billion rupees (US$476mil), according to an exchange filing Saturday. The outflow follows US$1.2bil in payouts announced by cash cow unit Hindustan Zinc Ltd earlier this week.
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