This Multibagger Pharma Stock Fixes Record Date In August For 1500% Dividend, Details Inside

Divis Laboratories, a large-cap pharmaceuticals company to soon pay the final dividend for the year ending March 2022. The dividend was declared in May 2002, this month the company announced the record date for the final dividend. The company, for the quarter ended 31-03-2022, reported a Consolidated Total revenue of Rs 2570.83 Crore, up 2.43 % from last quarter's Total revenue of Rs 2509.86 Crore and up 41.90 % from last year's same quarter Total Income of Rs 1811.71 Crore. The company reported a net profit after tax (PAT) of Rs 894.64 Crore in the latest quarter.

Divi's Laboratories 1500% Final Dividend

The Board Meeting of Divi's Laboratories was held on 23rd May 2022, where the company recommend a final dividend of 1500% equal to Rs 30 per equity share.

The Board of Directors of the company in its filing to the stock exchange, dated May 23, 2022, has stated, "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 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."

In its letter to Stock Exchange on July 04, 2022, the company stated, "The Company has fixed Friday, August 12, 2022 as the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2021-22, if approved at the AGM."

Ex-Date & Record Date - The ex-dividend date of the recommended 1500% final dividend is 11 August 2022, and the record date is 12 August 2022.

Divi's Laboratories Dividend History

The company has good dividend payout history since 2003. It has declared continuous 20 dividends since 2003. Out of these 20 dividends, 3 were Interim dividends and the rest 17 including this were final dividends. In the past 12 months, the company has declared a final 1000% equity dividend amounting to Rs 20 per share.

Divi's Laboratories Stock Outlook

The current market price (CMP) of the Divi's Laboratories stock is Rs 3,687.45 per share. Today, it was opened at Rs 3,734.10 per share and ends up at the CMP after falling 1.45% in trading. On May 26, 2022, the stock hit the 52-week level at Rs 3,365.55 per share, whereas, it touched the 52-week high on 18 October 2021 at Rs 5,425.10 per share. The CMP is trading at Rs 321.90 above the 52-week low levels. The ROE of the stock is 25.24%. PE ratio is 33.07. PB ratio is 8.35. TTM EPS is Rs 111.52.

In the past 1 week, the shares of the company gained 2.14%, whereas in the past 1 month 4. 52%, respectively. The share has slid 19.64% in the past 1 year, however, in the past 5 years, it has given a multibagger return of 405.3%. It is a large-cap stock with a market capitalization of Rs 97,890 crore.

About - Divi's Laboratories Ltd

Divi's Laboratories Ltd., incorporated in the year 1990, is a Large Cap company operating in the Pharmaceuticals sector. It has been established for more than 30 years in Hyderabad, India with two manufacturing units and is among the top pharmaceuticals companies in India. Divi's is the leading manufacturer of APIs (Active pharmaceuticals ingredients), Intermediates and Registered starting materials offering high-quality products with the highest level of compliance and integrity to over 100+ countries. It has a market presence in 95 countries and ~14,000 employees and is one of the leading pharmaceutical companies in the world. It is a Public limited company listed on the Indian stock exchange with revenue of ~$1.2B for the years 2021-22

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