Pharma Stock Declares Record Date For Total Dividend Outgo of Rs 3,28,19,498; Do You Own?

A small-cap company in the pharmaceutical industry, Sigachi Industries Ltd., has announced a record date for a total dividend outgo of Rs. 3,28,19,498.

"Members may note that the Board of Directors, in its meeting held on May 27, 2024 has recommended a dividend of Re. 1/- per share for fiscal year 2023-24. The record date for the purpose of dividend will be August 28,2024. The dividend, once approved by the members in the ensuing AGM will be paid within 30 days from the date of AGM, electronically through various online transfer modes to those members who have updated their bank account details," said Sigachi Industries in a stock exchange filing.

For the company's 2023-2024 fiscal year, the directors have recommended a 10% dividend, or Re. 0.10/-per equity share, on the paid-up equity share capital. Rs 3,28,19,498 is the entire amount spent on dividends; the requisite funds have been made available in the accounts.

"For members who have not updated their bank account details, dividend warrants / demand drafts / cheques will be sent out to their registered addresses. To avoid delay in receiving the dividend, members are requested to update their KYC with their depositories (where shares are held in dematerialized mode) and with the Company's Registrar and Transfer Agent (RTA) (where shares are held in physical mode) to receive the dividend directly into their bank account on the pay-out date," the company further informed stock exchanges.

"If the final dividend, as recommended by the Board of Directors, is approved at the AGM,payment of such dividend will be made on or before September 25,2024 as under: i. to all the Beneficial Owners in respect of shares held in dematerialized form as per the data as may be made available by the Depositories viz. National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) as at the close of business hours on August 28,2024 (viz. the "Record Date")," Sigachi Industries said in a regulatory filing.

"This is to inform the Exchanges that the record date/cut off date is 28.08.2024 and Register of Members and Share Transfer Books of the Company shall remain closed from 29.08.2024 to 04.09.2024 (both days inclusive) for the purpose of Dividend and 35th Annual General Meeting," the company in a stock exchange filing on 13.08.2024.

The company reported that its net profit for the quarter ending in June 2024 jumped 21% year on year to Rs 13.16 crore. In the same quarter last year, the company declared a PAT of Rs 10.88 crore. Compared to Rs 84.70 crore during the same quarter in the previous fiscal year, revenues climbed by 13% YoY to Rs 95,71 per cent during the quarter under review.