This multibagger stock shall pay 600% dividend soon: Do you own it?

Market


Suven Pharmaceuticals Ltd is a mid-cap company having a market cap of 12,504.23 Crore operating in the pharma sector. The company manufactures pharmaceuticals and fine chemical intermediates for leading pharmaceutical companies in India and abroad. Pharmaceutical solutions, active pharmaceutical ingredients, intermediates, and formulations are the company’s four main business segments.

The Board of Directors of the company stated in a regulatory filing that “The Board has declared an Interim Dividend of Rs.1.00 per equity share (100% of face value of Rs.1.00 each) and special dividend of Rs. 5.00 per equity share (500% of face value of Rs.1.00), totaling to Rs. 6.00 per equity share (600% of face value of Rs. 1.00 each) for the financial year 2022-23. The Board has approved the Record Date i.e., September 12, 2022 notified earlier by the Company for the purpose of payment of dividend to the eligible shareholders. The above said dividend will be paid on and from September 20, 2022.”

The ex-date for the dividend will fall on September 9, 2022, due to upcoming stock market holidays occurring on Saturday and Sunday. At the stock’s current market price, the dividend yield climbs to 1.22% when the whole payout of 6 per share is taken into account. Today’s NSE closing price for Suven Pharmaceuticals Ltd. shares was Rs. 491.00 a piece, down 0.31% from yesterday’s close of Rs. 492.55. The stock has produced multibagger returns of 205% over the past three years and 237.11% over the past five years. 

In the last 1 year, the stock has fallen 8.33% and on a YTD basis, the stock has fallen 0.27% so far in 2022. On the NSE, the stock had touched a 52-week-high of 631.75 on (29-March-2022) and a 52-week-low of 425.70 on (24-February-2022) indicating that at the current market price the stock is trading 22.28% below the high and 15.33% above the low. For the quarter ended June 2022, the company recorded a promoter shareholding of 60.00% which is higher than its peers such as Alkem Lab, Dr Reddy’s Labs, Cipla and Sun Pharmaceuticals Industries.

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