Large-cap pharma stock to turn ex-dividend next month. 5 things you should know

Market


Dividend paying stock: Board of directors of Piramal Enterprises Ltd has recommended final dividend of 33 for the financial year 2021-22. It has fixed 15th July 2022 as record date for determining the shareholders eligible for dividend payment. So, the large-cap pharma stock is going to turn ex-dividend next month on 14th July 2022. As Piramal Enterprises share price today is 1648 apiece on NSE, and dividend announced is 33, its annual dividend yield today is around 2 per cent.

Announcing about the developments, Piramal Enterprises Ltd informed Indian bourses citing, “We wish to inform you that the Board of Directors of the Company, at its meeting held today, inter alia, took the following decisions: The Board has recommended a Final Dividend of 33/- (Rupees Thirty-Three only) per equity share of face value of Rs. 2/- each (i.e. @ 1,650%) for the financial year ended 31st March, 2022.”

Informing Indian bourses about the cut-off date for final dividend payment, the dividend paying stock added, “Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed Friday, 15th July, 2022, as the Record Date for the purpose of determining the names of Members eligible for final dividend for the financial year ended 31st March, 2022. If the final dividend as recommended by the Board of Directors is approved at the AGM, such dividend will be paid/dispatched, subject to deduction of tax at source, after the AGM.”

Here we list out 5 things that shareholders of the company should know:

1] Dividend: The large-cap pharma company has announced 33 per equity share final dividend for the financial year 2021-22.

2] Record date for dividend payment: The board of directors of the company has fixed 15th July 2022 as record date for determining the eligible shareholders for dividend payment.

3] Dividend yield: Piramal Enterprises share price today is 1648 and final dividend is 33. So, pharma stock’s current dividend yield is near 2 per cent.

4] Percentage dividend: The board of the company has announced 33 per equity share dividend and face value of the share is 2. So, percentage of dividend announced is 1650 per cent.

5] AGM date: These recommendations are subject to approval by shareholders and members of the company in ensuing AGM scheduled on 29th July 2022.

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