This Mid-Cap MNC Pharma Stock To Pay Out 200% Dividend, Record Date Declared

Mid-cap stocks are beneficial in portfolio diversification as they offer a balance of growth and stability. These stocks have lesser volatility than small-cap stocks. One such mid-cap stock is all set to pay out dividend to its shareholders. Leading Indian Multinational pharmaceutical company has announced that it will pay a dividend of 200%. Below are the details:

1. Alkem Laboratories Ltd. declares 200% dividend

The bluechip mid-cap stock has announced to pay out final dividend and the date for the same has been fixed August 30, 2022. As per the company's filing to the BSE, "The Board of Directors at its meeting held on 13th May, 2022, has, inter alia fixed 10th August, 2022 as the record date for the payment of final dividend and 18th August, 2022 as the Cut-off date for the purpose of the Annual General Meeting. The dividend, if declared by the shareholders, shall be paid on and from 30th August, 2022. Kindly take the same on record."

Ex-dividend date and record date: The ex-dividend date is fixed August 8, 2022 and record date is declared August 10, 2022.

2. Alkem Laboratories Stock Outlook

The current market price of the stock is Rs 3098.35 apiece. The 52-week high and 52-week low of the stock is Rs 4070 apiece and Rs 2828 apiece, respectively. The PE of the stock is 22.51 while sector PE is 28.76. The EPS is 137.63. The stock has given a return of 66.75% in 5 years.

3. Alkem Laboratories Dividend history

The company has a solid dividend track record and it has regularly declared dividends in the past 5 years. Earlier this year in March it has declared a dividend of Rs 34 per share. If the current share price is considered at Rs 3098, the dividend yield is coming 1.1%.

4. Alkem Laboratories Q4, 2022 Results

It reported a dip of 55.17% in its net profit for the quarter ending March 2022 to Rs 107.58 crore as against Rs 239 crore in the previous quarter ending March 2021.

Sales registered a growth of 13.31% to Rs 2483 crore in the quarter ending March 2022 as against Rs 2192 crore in the previous quarter ending March 2021. However, for the whole year, net profit was up by 3.82% to Rs 1645 crore for FY 2022.

5. About Alkem Laboratories Ltd

The company came into existence in 1973. Nearly 33% of its revenue is generated via offshore sales. It has consistently been ranked amongst the top ten pharmaceutical companies in India. Its portfolio includes illustrious brands like Clavam, Pan, Pan-D and Taxim-O, which feature amongst top 50 pharmaceutical brands in India, according to its website.

The market capitalization of the company is Rs 37,045 crore.