Rs 50/Share Dividend: Pharma Stock To Trade Ex-Dividend In 2 Days; Buy Now?

In the pharmaceutical industry, Procter & Gamble Health Ltd. is a mid-cap company. One of the largest VMS Companies in India is Procter & Gamble Health Limited, which produces and distributes over-the-counter products as well as supplements, vitamins, and minerals.

For the financial year ended June 30, 2023, the company has announced an interim dividend of Rs 50 per share, with the ex-dividend date set for November 23, 2023 which means the stock is going to trade ex-dividend in 2 days.

Procter & Gamble Health Dividend

The Board of Directors of the company have recommended a final dividend of Rs. 50 per equity share, for the financial year ended June 30, 2023. The dividend shall be paid between November 28, 2023 to December 18, 2023, on approval of the Members at the 56th Annual General Meeting.

"We would like to inform you that the 56th Annual General Meeting of the Company is rescheduled for Thursday, November 30, 2023. We would further like to inform you that the Register of Members and Share Transfer books shall remain closed from Friday, November 24, 2023 to Thursday, November 30, 2023 (both days inclusive) for the purposes of Annual General Meeting and payment of dividend for the year ended June 30, 2023, if approved by members at the 56th Annual General Meeting," said Procter & Gamble Health in a stock exchange filing.

Procter & Gamble Health Results

Procter & Gamble Health Limited (PGHL) produced strong growth throughout the quarter ended September 30, 2023, with sales of Rs 300.20 crore, up 3% YoY. The company's Profit After Tax (PAT) was recorded at Rs 65.6 crores, up 3% from the corresponding quarter of the previous fiscal. Operational Profit After Tax (PAT) was up 20% vs a year ago.

Mr. Milind Thatte, Managing Director, P&G Health India, said, "The team delivered a resilient quarter amidst significant industry headwinds. In an external environment of low category demand and a tough competitive landscape, we remained focused on our integrated strategy which comprises a portfolio of quality, trusted and highly recommended healthcare products where performance drives brand choice; with superiority across product, package, brand communication, retail execution, and value; productivity; constructive disruption; and an agile, empowered organization. We believe these are the right strategies to help us navigate our short and mid-term challenges and help us deliver balanced growth."

He added, "We continue to invest towards consumer awareness programs across therapy areas. The company also invested towards increasing customer reach and market penetration, all while combining breakthrough science with deep consumer and patient understanding."

Procter & Gamble Health Share Price Target

Mandar Bhojane-Equity Research Analyst said, "PGHL, currently trading at 5151 levels, is exhibiting a sideways trading pattern within the range of 4900-5250 for the past 7 weeks. This consolidation suggests a period of indecision or equilibrium in the market.

The lower end of this range, around 4900, serves as a strong support level and aligns with the 200-Day Exponential Moving Average (EMA). This confluence enhances the significance of this support level, indicating a potential bounce when the price approaches it. There's a minor resistance observed near the upper end of the range, around 5250 levels. A successful breach of this resistance may pave the way for an upward movement towards the next resistance at 5500 levels. This presents a potential opportunity for traders."

"Currently, PGHL is trading above all important moving averages, signalling strength in its trend. The momentum indicator RSI is at 53.3 levels, indicating a neutral position. This suggests a balanced market sentiment without a clear bias towards overbought or oversold conditions. For investors holding from lower levels, it's advisable to trail their stop loss at the lower end of the range, around 4900. This approach helps protect gains while allowing for potential upside," the analyst added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.