Rs 22.50/Share Dividend: Small Cap Pharma Co Declares Highest Ever Dividend

Board of Directors small cap pharmaceuticals sector company Glenmark Life Sciences Ltd today declared an interim dividend of Rs 22.50 per equity share of Rs 2 each for the FY 2023-24. The company already fixed October 17, 2023 as the record date for dividend and interim dividend will be paid to shareholders on or after October 23, 2023.

Glenmark Life Sciences Declares Interim Dividend For FY 2023-24: As per the regulatory filing issued today, "This is to inform you that the Board of Directors ("Board") of the Company has at its meeting held today i.e. October 09, 2023, inter-alia, declared Interim Equity Dividend for the financial year 2023-24 of Rs. 22.50/- per equity share of Rs. 2 each. As intimated vide our letter dated October 04, 2023, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Tuesday, October 17, 2023. The interim dividend will be paid to such shareholders on or after October 23, 2023."

Glenmark Life Sciences Dividend History: The company so far announced 4 dividends since November 22, 2021. In last 12 months, Glenmark Life Sciences declared an equity dividend amounting to Rs 21.00 per share. It offers a dividend yield of 3.37% if the current market price of Glenmark Life Sciences share is taken into note.

Glenmark Life Sciences Stock Performance & Return: Last trading price of Glenmark Life Sciences share is Rs 626.50 per share on BSE. Its 52-week high price is Rs 674.00 per share and 52-week low price is Rs 369.00 per share, respectively. The company's market capitalisation is Rs 7676.33 crore. Glenmark Life Sciences stock gained 55% in last 6-months, soared 50% YTD, and gave a return of 65% in last 1-year. Glenmark Life Sciences stock fell 6.64% in last 2-years.

Glenmark Life Sciences Financials: The company for the quarter ended June 30, 2023 announced it total revenue at Rs 5784.5 million, up 18% YoY. Meanwhile, net profit for the period declared at Rs 1354.5 million, up 24%.

Glenmark Life Sciences About: It is a leading developer and manufacturer of Active Pharmaceutical Ingredients (APIs). The company is in the business of making high-quality drugs. Over the years, it has established strong relationships with leading global generic pharmaceutical companies that have helped it expand its product offerings and geographic reach. It works with 16 of the 20 largest generic companies globally, according to its official website.

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