This Large Cap Pharma Major To Pay Interim Dividend Of 500%

The large cap pharma major Torrent Pharmaceuticals in an exchange filing said that the company's board at its meeting held today approved an interim dividend of Rs. 25/- (500 %) per equity share of Rs. 5/- fully paid up.

Important details on interim dividend for Fy22

Ex-date: February 2, 2022

Record date: Earlier on January 10th the company via a filing announced the record date for the interim dividend as 3 rd February, 2022. " Pursuant to Regulation 42 of Listing Regulations, the Company has fixed Thursday, · 3 rd February, 2022 as the Record Date for taking record of the Members of the Company for the purpose of payment of lnterim Dividend, if declared by the Board at their meeting scheduled to be held on Tuesday, 25t h January, 2022", said the company in an exchange filing.

Dividend payment date: "The dividend is expected to be paid / dispatched on or around 11th February, 2022", added the release.

Also, the company presentation on unaudited Consolidated Financial Results for the quarter and nine months ended 31st December, 2021 to be made to analysts has been enclosed in an exchange filing. This primarily includes the company's revenue summary from India, US, Germany, Brazil, Other countries and others (Inc. CRAMS).

Torrent Pharma’s past dividend record

In the last fiscal year the company declared a dividend of Rs. 35 which considering the stock's price of Rs. 3161 equates to a dividend yield of 1.11%. Before that for Fy 20 the company announced Rs. 32 as dividend including Rs. 15 special dividend.

Torrent Pharma Q3Fy22 Results: Pressure on US business offsets strong business in India

In the just ended Q3 quarter of Fy22, the company posted 6% YoY gains in revenues to Rs. 2108 crore. PAT at the firm registered a 16% YoY decline from Rs. 297 crore in Q3Fy21 to Rs. 249 crore in Q3fy22 period. R&D spends however were up at Rs. 123 crore in the period under review.

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