Rs 16/Share Dividend: Mid Cap Pharma Stock Set to Trade Ex-Dividend in 2 Days with 800% Payout.

Rajesh
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Astrazeneca Pharma India Ltd, a prominent small-cap firm in the pharmaceutical industry, is poised to reward its shareholders with an impressive dividend payout of 800% for the fiscal year 2022-23. With its innovative portfolio focusing on crucial healthcare sectors such as cardiovascular, renal & metabolic diseases, oncology, and respiratory, the company has established itself since its inception in 1979. Headquartered in Bengaluru, Karnataka, Astrazeneca Pharma India has recently announced that its stock will trade ex-dividend in just 2 days, on July 14, 2023.

Astrazeneca Pharma India Ltd

The company formally disclosed this dividend recommendation in a stock exchange filing, stating, "We are pleased to inform that at the Meeting of the Board of Directors held on May 30, 2023, the Board has recommended a dividend of Rs. 16/- per equity share of Rs. 2/- each, pending approval from the Shareholders at the upcoming Annual General Meeting."

To determine the entitlement of shareholders for the dividend payment, Astrazeneca Pharma India has also declared July 14, 2023, as the Record Date. Provided that the dividend is approved by the shareholders, it will be paid or dispatched to them on or before September 13, 2023, as per the company's official statement.

In the financial landscape, AstraZeneca Pharma India continues to make significant strides. For the quarter ending March 2023, the company reported a net profit of Rs 17.3 crore, demonstrating a slight decline from Rs 27.98 crore in Q4FY22. However, its revenue increased to Rs 284.7 crore compared to Rs 222 crore in the corresponding quarter of FY22. Meanwhile, the company's net expenses rose to Rs 269.33 crore in the March 2023 quarter, marking an increase from Rs 198.41 crore in the March 2022 quarter.

Presently, AstraZeneca Pharma India shares are trading at Rs 3745.55 apiece on the Bombay Stock Exchange (BSE). The stock achieved a 52-week high of Rs 3,832.60 on July 4, 2023, and a 52-week low of Rs 2,939.10 on October 14, 2022. As of Q4FY23, the company's promoter shareholding stands at 75.00%, with FIIs holding 2.70%, DIIs holding 1.41%, and the remaining 20.88% owned by the public.

Investors and shareholders of Astrazeneca Pharma India can look forward to reaping the benefits of the upcoming ex-dividend trading and the generous dividend payout, underscoring the company's commitment to enhancing shareholder value.

Read Also : Rs 5/Share Dividend: Packaging Company, Cosmo First Ltd, Sets July 28 as Record Date.

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