Rs 410/Share Dividend: Pharma Stock Set To Trade Ex-Date In 4-Days, How To Be Eligible?

Leading pharmaceuticals company Abbott India Ltd shares are set to trade ex-dividend on July 19, 2024 for Rs 410/share final dividend. Current market price of Abbott India share on BSE is Rs 27,481.60 per share with intraday fall of 1.23%. Abbott India shares gained 21% year-to-date and soared 17% in last 1-year. Its PE is 48.61 and ROE is 32.48. Abbott India has a market capitalisation of Rs 58,396.48 crore. The company fixed July 19, 2024 as the record date. More details below:

Abbott India To Go Ex-Dividend On July 19: As per the regulatory filing of Abbott India issued as on May 9, "the Board of Directors at its Meeting held today i.e., May 9, 2024, recommended payment of final dividend of Rs. 410/- per equity share of Rs 10/- each for the year ended March 31, 2024, subject to approval of the Shareholders at the ensuing Eightieth Annual General Meeting of the Company scheduled to be held on August 8, 2024."

How To Be Eligible For Abbott India Dividend? Record date plays key role in deciding eligibility of shareholders for obtaining dividend income. 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. Abbott India set record date as July 19, 2024 for final dividend of Rs 410/- per share.

Abbott India Share Performance: The 52-week high price of Abbott India shares on BSE is Rs 29,628.15 per share (as on 16/02/2024) and 52-week low price is Rs 21,907.45 per share (as on 26/10/2023), respectively. Abbott India share slipped a little over 1% in last 1-week, gained 21% year-to-date, zoomed 41% in last 2-years, and offered return of 208% in last 5-years.

Abbott India Financials: The pharma giant on May 9 declared a jump of 24% year-on-year (YoY) in net profit to Rs 287 crore for Q4 of FY2023-24. Its revenue soared 7% to Rs 1439 crore as against Rs 1343 crore reported in the year-ago period, as per the BSE filing.

ICICI Securities Recommends Buy Call: According to the analyst, "We trim our revenue estimates by ~2-3% for FY25-26E and EPS estimates by ~2% for FY26E to factor slowdown in key brands. The stock currently trades at valuations of 39.2x FY25E and 34.1x FY26E earnings and EV/EBITDA multiple of 31.1x FY25E and 26.8x FY26E. We maintain BUY with a revised target price of INR 32,500 (INR 33,000 earlier) based on 42x FY26E EPS. Key risks: Addition of key drugs in NLEM and government intervention."

About: Since 1910, Abbott has been dedicated to helping people in India live healthier lives through a diverse range of science-based nutritional products, diagnostic tools, branded generic pharmaceuticals, and diabetes and vascular devices. Headquartered in Mumbai, Abbott India Limited, a publicly listed company and a subsidiary of Abbott Laboratories, offers medicines in multiple therapeutic categories such as women's health, gastroenterology, cardiology, metabolic disorders and primary care, according to official website.

Disclaimer: The stock has been picked from the brokerage report of ICICI Securities. 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.