3 Free Shares, Rs 4/Share Dividend: Pharma Stock Rallies On Bonus Share, Dividend Proposal

Pharmaceuticals sector company Remus Pharmaceuticals today declared two good news for their shareholders. The board of directors of the company recommended 3:1 bonus issue implying shareholders will be eligible to receive 3 bonus shares for every 1 share held as on the record date.

The company also declared 2nd interim dividend of Rs 4/share have face value of Rs 10/- each for the financial year 2023-24. Soon after the announcement, Remus Pharmaceuticals shares zoomed nearly 7.25% intraday to settle at Rs 6800.00 per share. More details below:

Remus Pharmaceuticals Declares 2nd Interim Dividend: As per the regulatory filing of the company dated April 23, "declared 02nd interim dividend of Rs. 04/- (Rupees Four only) per equity share having face value of Rs. 10/- each for the financial year 2023-24."

Remus Pharmaceuticals Recommends Bonus Share: The company BSE filing also added, "the Board of Directors have approved and recommended issuance of Bonus Shares to the equity shareholders of the Company in the ratio of 3: 1 i.e., 3 (Three) new fully paid-up Equity Shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up Equity Share of Rs. 10/- (Rupees Ten only) each held by the eligible shareholders as on the Record Date which will be determined and intimated to the Exchange in due course."

Remus Pharmaceuticals Share Performance: The 52-week high price of Remus Pharmaceuticals share on BSE is Rs 7155.00 apiece (as on April 23, 2024) and 52-week low price is Rs 6120.00 per share (as April 23, 2023), respectively. The company's market capitalisation is Rs 1001.64 crores. In last 1-week, Remus Pharmaceuticals shares zoomed 9%, gained 17% in last 1-month, and offered return of 11% in last 3-months.

About: Remus focuses on marketing, distributing and exporting top-of-the-line complex generics certified by regulatory authorities. Backed by expert scientists, it makes "healing through medicines" globally affordable. For over a decade, Remus has been at the forefront of critical healthcare globally, according to its official website.

Disclaimer: The stock highlights the dividend, bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.