Top headlines: Vedanta declares dividend of Rs 19.5; HUL Q1 net rises 11%

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

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. Read more...

Hindustan Unilever Q1 results: Net profit rises