Shares of Vedanta gained two per cent to ₹293 on Thursday even in a broadly bearish market as the shareholders cleared the proposal to transfer ₹12,857 crore from reserves to profit and loss account for further distribution as dividend to investors. Earlier, the Anil Agarwal-led company had received 99.96 per cent of shareholders’ approval at the extraordinary general meeting held as per the direction of National Company Law Tribunal in August.

The company is expected to announce a special dividend soon. Interestingly, the promoters’ holding company Vedanta Resources will receive 70 per cent of the amount distributed as dividend.

Incidentally, Vedanta paid the highest dividend of ₹16,740 crore last fiscal. So far, it has paid two interim dividends of ₹18,960 crore in this fiscal.

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