Rs. 35 Dividend: Payable Before September 6; Hold The Stock By Record Date?

Founded more than 170 years ago, Pfizer is one of the top pharmaceutical businesses in the world. Pfizer Limited is a specialised company offering professional therapy in four key areas: hospitals, internal medicine, immunology and inflammation, and vaccines. It is India's fourth-largest international pharmaceutical corporation. The company offers more than 150 medicinal products in 15 different therapeutic categories. In 1966, Pfizer Limited went public on the Bombay Stock Exchange.

Pfizer Dividend

"We refer to our letter dated August 6, 2024, whereby an intimation was given that the 73rd Annual General Meeting of the Company is scheduled to be held on Wednesday, August 28, 2024 at 3:00 p.m. (IST) through Video Conferencing (''VC'') / Other Audio-Visual Means ("OAVM"). The said intimation also stated that the record date for payment Dividend of Rs. 35/- (350%) per equity share is Friday, August 16, 2024. The Notice of 73rd Annual General Meeting was sent to the Members whose email addresses are registered with the Company / Depository Participant(s) on Tuesday, August 6, 2024. The Company hereby informs that a corrigendum is issued to inform the Members that the Record Date for the purpose of payment Dividend has been revised to Wednesday, August 21, 2024. We request you to kindly take note of the revised record date as Wednesday, August 21, 2024," the company said in a stock exchange filing.

Pfizer Q1 Results

For the first quarter that ended on June 30, 2024, the firm recorded a 61.2% year-on-year (YoY) gain in net profit at Rs 150.7 crore. Pfizer reported a net profit of Rs 94 crore for the same period last year, according to a regulatory filing from the pharmaceutical company. The company's revenue rose 5.9% to Rs 563 crore in Q1FY25 from Rs 531.4 crore in Q1FY24. In comparison to Rs 110.8 crore during the same time in the previous fiscal year, EBITDA jumped by 60.2% to Rs 177.5 crore in the first quarter of the current fiscal year. EBITDA margin was 31.5% in the quarter under review, up from 20.9% during the year-ago quarter.

Pfizer Share Price Target

"The American biopharmaceutical company Pfizer is currently trading at Rs. 5,787. However, my analysis suggests that a dip is possible as the stock is trading in an overbought zone, as seen from its above 70 RSI readings across all timeframes. Regardless, those interested in exploring this stock can consider the buying range of Rs. 5,000-5,130 for a target price of Rs. 5,670-7,000. For this stock, I recommend a holding period of 2-7 months and encourage setting a stop loss at Rs. 4,700 to limit losses," said V.L.A. Ambala, a Research Analyst (SEBI Registered), Co-founder - Stock Market Today (SMT).

Disclaimer

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