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Pfizer hits 52-week high on board nod for interim dividend

By Religare
Pfizer hits 52-week high on board nod for interim dividend
Shares of pharma major Pfizer rallied over 15 per cent in early trade, hitting 52-week high, on Bombay Stock Exchange (BSE) after the board of company approved the payment of interim dividend to the shareholders of the company.

"The Board of Directors of the Company at their meeting held on November 23, 2013 has approved the payment of Interim Dividend of Rs. 360 per equity share of Rs. 10 each (3600%) to the shareholders of the Company. The said interim dividend will be paid on December 17, 2013," Pfizer said in a filing to BSE.

Buoyed by development, shares of company gained as much as 15.11 per cent to trade and touched 52-week high to trade at Rs 1648.00 a piece on the BSE.

In a similar fashion, shares of the company advanced 5.68 per cent to Rs 1,518.10 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 20,501.88, up 284.49 points or 1.41 per cent at 10:43 hours.

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