Vedanta declares dividend of Rs 19.5 per share in boost to London parent

The hefty dividend comes even as the firm plans to ramp up capital investment to as much $2 billion in the year ending March 2023

Vedanta Ltd. will pay a dividend of Rs 7,250 crore ($907 million) to shareholders in a move that will help its debt-heavy parent, which is grappling with soaring bond yields of as much as 40%. 

The unit of Anil Agarwal’s metals and oil conglomerate said it will pay Rs 19.5 per share, according to an exchange notice Tuesday. Its controlling shareholder, London-based holding vehicle Vedanta Resources Ltd., owns about 70% of the Indian firm, which is its main asset. 

The dividend is key for its parent, which has seen its bonds fall the most in June since the early months of the