Vedanta Board Meeting Cancelled

10 Oct 2024 , 03:05 PM

Vedanta’s board, chaired by Anil Agarwal, announced on Wednesday that the company’s board meeting, in which the fourth interim was to be reported and approved, had been cancelled due to ‘unforeseen circumstances’, causing the stock to fall 2% to the day’s low of Rs 487.

“Further to our Letters VEDL/Sec./SE/24-25/167 dated September 25, 2024 and VEDL/Sec./SE/24- 25/177 dated October 08, 2024, we wish to inform that due to unforeseen circumstances we withdraw the Notice of Board Meeting proposed to be held on October 9, 2024 and accordingly the Board meeting hereby stands cancelled,” reported the business in an exchange filing.

The meeting, originally scheduled for Tuesday, October 8, was postponed for unclear reasons. The corporation said on Tuesday that it has been rescheduled for Wednesday, October 9th.

The business previously announced that if the dividend is issued, the record date for determining shareholder eligibility will be October 16.

Vedanta declared equity dividends of Rs 46 per share over the last 12 months, and at the current share price of Rs 491, the company’s dividend yield is 9.37%, according to Trendlyne statistics.

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