1500% Dividend: Pharma Major Declares 67% Rally In Q4 Net, Record Date Fixed; Eligible?

Leading pharma major Divi's Laboratories on May 25 declared a surge of 67% in its consolidated net profit for the quarter ended March 31, 2024 to Rs 538 crore as against Rs 321 crore declared in the corresponding quarter of last year. The Board of the large cap recommended a final dividend of Rs 30/- per equity share of the face value of Rs 2 each for the financial year 2023-24. Divi's Laboratories shares gained 8.72% in last 2-weeks and 133% in last 5-year. Leading brokerage firm Axis Securities has recommended buy call to Divi's Laboratories shares with target price of Rs 4320-4450 per share and maintain the stop loss at Rs 3780 per share. More details below:

Divi's Laboratories Recommends Dividend: The board of the company issued BSE filing as on May 25 stating, "recommended a final dividend of Rs 30/- (i.e. 1,500%) per equity share of face value Rs 2/- each for the financial year 2023-24, subject to approval of the members at the ensuing 34th Annual General Meeting (AGM). The dividend shall be paid within specified timelines from the conclusion of the AGM. The 34th AGM of the Members of the Company will be held on Monday, August 12, 2024. The record date for the purpose of the payment of dividend is August 02, 2024."

Divi's Laboratories Share Performance: The 52-week high price of Divi's Laboratories share on BSE is Rs 4175.35 (as on 24/05/2024) and 52-week low price is Rs 3300.00 per share (as on 06/11/2023), respectively. The company's market capitalisation is Rs 1,09,446.06 crore. Divi's Laboratories share offered return of 5.39% last 1-week, jumped over 13% in last 3-months, surged 22% in last 1-year, and soared 133% in last 5-years.

How To Be Eligible For Divi's Laboratories Dividend? Record date remains crucial role in determining eligibility of shareholders for receiving dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. Divi's Laboratories fixed August 2, 2024 as the record date for final dividend.

Divi's Laboratories Q4: Its revenue from operations rose 18% for the March 2024 quarter to Rs 2303 crore as against Rs 1951 crore declared in the similar quarter of last year. The company's EBITDA surged to Rs 731 crore for the quarter under review from Rs 473 crore announced in March 2023. EBITDA margin for the quarter under review expanded to 31.7% from 25% last year.

Divi's Laboratories About: Established in the year 1990, Divi's is a leading manufacturer of Active Pharmaceutical Ingredients offering high quality products to over 95 countries. Divi's manufactures Generic APIs, Nutraceutical Ingredients and offers Custom Synthesis of APIs to Big Pharma providing a competitive advantage over the entire life cycle of the products, according to its official website.