Pharma Stock Recommends Dividend Of ₹30. Details Here

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While announcing its Q4FY22 earnings, Divi’s Laboratories said that its board has recommended a dividend of 30 for the financial year 2021-22. Shares of Divi’s Labs were trading about a per cent higher at 4,343 apiece on the BSE in Monday’s afternoon deals.

“we would like to inform that the Board of Directors of the Company at its meeting held on Monday has recommended a Dividend of~ 30/- (i.e. 1500%) per equity share of face value ~ 2/- each for the financial year 2021-22, subject to approval of the members at the ensuing 32nd Annual General Meeting (AGM),” the pharma company informed in an exchange filing.

The dividend shall be credited/ warrants thereof dispatched within 30 (thirty) days from the conclusion of the AGM. The AGM date and book closure / record date for the purpose of the payment of dividend will be informed in due course, the company added.

Meanwhile, the company’s net profit grew over 78% to 894 crore for the quarter ended March, 2022 as compared to 502 crore in the same quarter last year. Whereas, its revenue rose 40% to 2,518 crore during the fourth quarter from 1,788 crore year-on-year (YoY).

Divi’s is a leading manufacturer of Active Pharmaceutical Ingredients (API). Divi’s Labs shares are up more than 5% in a year’s period, however, the pharma stock is down about 7% in 2022 (YTD) so far.

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