Small Cap Pharma Stock Fixes Record Date For Final Dividend On Sept 19

Pharmaceuticals firm Indoco Remedies Ltd. on Friday fixed Sept 19, 2023, as the record date for the final dividend for the Financial Year 2022-2023. The board recommended a final dividend of Rs 2.25 per equity share on Tuesday, May 23, 2023. The dividend, if approved, shall be paid on or after Sept 29, 2023, according to the board of directors.

"The Register of Members and Share Transfer books of the Company will remain closed from Wednesday, 20th September, 2023 to Tuesday, 26th September, 2023 (both days inclusive) for taking record of the Members of the Company for the purpose of payment of final dividend and AGM. If the final dividend as recommended by the board of directors is approved at the ensuing 76th Annual General Meeting, payment of such dividend subject to deduction of tax at source, will be made on or after 29th September, 2023," the Board said in a filing.

According to the regulatory filing, "We would further like to inform that the Company has fixed Tuesday, 19th September, 2023 as the cutoff date for the purpose of remote e-voting and e-voting during the AGM, for ascertaining the names of the Shareholders holding shares either in physical form or in dematerialised form, who will be entitled to cast their votes electronically in respect of the businesses to be transacted at the AGM."

Indoco Remedies' shares on BSE closed at Rs 311.90 per share, 1.45% down from its previous close. The stock has fallen 12.71% in the past 1 year, while in 2 year, it has fallen 34.58%. In the past 3 and 5 years, it gained 42.13% and 38.71%, respectively.

The stock hit 52-week high on Jan 02, 2023, at Rs 423.10 per share and 52-week low on Apr 26, 2023, at Rs 307 per share. The market cap of the stock is Rs 2,874.17 Crore. It is a small-cap stock.

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