Highest Dividend After 20 Years In 2023: Pharma Giant To Mull Dividend, Sharekhan Reiterates Buy

Large Cap Pharmaceuticals sector company Cipla Ltd share declined 0.76% in trade today on BSE to settle at 1448.65 per share. The Board of Directors of the company will hold meeting on May 10, 2024 to recommend dividend, if any. The company will also consider and approve financial results for the quarter ended March 31, 2024. Cipla shares offered return of 258% in last 10-years and soared 171% in last 5-years. Cipla Ltd has a market capitalisation of Rs 1,16,959.23 crore. Check details below:

Cipla To Consider Final Dividend: According to the BSE filing of the company dated April 5, 2024, "Board of Directors of the Company will be held on Friday, 10th May 2024 inter-alia to:
1. Consider and approve the Standalone and Consolidated Audited Financial Results of the Company for the quarter and year ended 31st March 2024.
2. Recommend final dividend for the year ended 31st March 2024, if any."

Cipla Dividend History: Cipla Ltd. has declared 25 dividends since Aug. 6, 2001. In last 12 months, Cipla Ltd announced an equity dividend of Rs 8.50 per share. At the current share price of Rs 1448.65 per share, Cipla Ltd offers a dividend yield of 0.59%.

It is worth mentioning Cipla recommended highest dividend after 20-years in 2023 at Rs 8.50 per share. Earlier, Cipla announced Rs 10/share dividend in 2003.

Cipla Share Performance & Return: The 52-week high price of Cipla shares on BSE is Rs 1519.00 per share and 52-week low price is Rs 889.20 per share, respectively.

Cipla shares declined over 3% in last 1-week, gave return of 25% in last 6-months, zoomed 62% in last 1-year, and surged 42% in last 2-years. In last 3-years, Cipla stock zoomed 77%.

Sharekhan Recommends Buy Call: Brokerage firm Sharekhan, in its report dated March 14, 2024, appears bullish on Cipla shares and recommended buy call with target price of Rs 1700 per share. The analyst has upgraded the target price from Rs 1600 to Rs 1700 per share. According to the analyst, "We reiterate a Buy call with a higher PT due to buoyancy in the US, as price erosion pressures ease, volume growth due to drug shortages and focus on complex products. Cipla's growth in the IPM February 2024 stood at 8.1% (IPM growth of 9%) and 9.9% on MAT basis (IPM growth of 6.7% on a MAT basis). We expect EBITDA margins to rise to 26% by FY26E driven by higher chronic share in the domestic business, new product launches in the complex generics in the US and completion of acquisition of Actor Pharma in South Africa."

Disclaimer: The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.