Cairn to pay 160p per share

Following Cairn Energy's $5.5bn sale of a large stake in its Indian business to Vedanta Resources, the oil and gas giant has now given details of the long-awaited $3.5bn it intends to return to its lucky shareholders.

Following Cairn Energy's $5.5bn sale of a large stake in its Indian business to Vedanta Resources, the oil and gas giant has now given details of the long-awaited $3.5bn it intends to return to its lucky shareholders.

Cairn first announced the cash return in December when it completed the disposal of a 30% shareholding in Cairn India for $4.1bn, following the earlier sale of a 10% stake for $1.4bn.

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