Rs 16/Share Dividend: Mid Cap Pharma Stock To Trade Ex-Dividend In 2 Days For 800% Dividend Payout

Small-cap firm Astrazeneca Pharma India Ltd operates in the pharmaceutical industry. The company has a novel portfolio in key healthcare fields like cardiovascular, renal & metabolic diseases, oncology and respiratory. Established in 1979, Astrazeneca Pharma India is headquartered in Bengaluru, Karnataka. The company has declared a dividend payout of 800% for FY23 and the stock is going to trade ex-dividend in 2 days on 14 July 2023.

"We wish to inform that at the Meeting of the Board of Directors of the Company held on May 30, 2023, the Board has recommended Dividend of Rs. 16/- per equity share of Rs. 2/- each, subject to the approval of Shareholders at the forthcoming Annual General Meeting of the Company," said Astrazeneca Pharma India in a stock exchange filing.

"We wish to inform that the Record Date for determining the entitlement of the shareholders for the payment of the Dividend for financial year 2022-23 is July 14, 2023. The Dividend, if approved by the shareholders, shall be paid/dispatched to the shareholders on or before September 13, 2023," said Astrazeneca Pharma India in a statement.

AstraZeneca Pharma India reported a net profit of Rs 17.3 crore for the quarter ended March 2023 compared to Rs 27.98 Cr in Q4FY22. Its revenue stood at Rs 284.7 crore as against Rs 222 crore for the same quarter of FY22. The company's net expenses reached Rs 269.33 Cr in March 2023 quarter compared to Rs 198.41 Cr in March 2022 quarter.

The shares of AstraZeneca Pharma India were trading on the BSE at Rs 3745.55 apiece while writing this copy. The stock made a 52-week-high of Rs 3,832.60 on (04/07/2023) and a 52-week-low of Rs 2,939.10 on (14/10/2022). During Q4FY23, the company reported promoter shareholding of 75.00%, FIIs stake of 2.70%, DIIs stake of 1.41% and public stake of 20.88%.