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Business News/ Markets / Stock Markets/  Aster DM Healthcare share price jumps over 14% to 52-week high on special dividend announcement
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Aster DM Healthcare share price jumps over 14% to 52-week high on special dividend announcement

Aster DM Healthcare on Friday had announced that its board of directors approved a special dividend of ₹118 per equity share. Aster DM said that the dividend is attributed to the proceeds from the sale of the GCC business.

Aster DM Healthcare dividend record date is April 23. Premium
Aster DM Healthcare dividend record date is April 23.

Aster DM Healthcare share price jumped over 14% in early trade on Monday after the company announced a special dividend for its shareholders. Aster DM Healthcare shares rallied as much as 14.4% to a fresh 52-week high of 558.30 apiece on the BSE.

Hospital chain operator Aster DM Healthcare on Friday had announced that its board of directors approved a special dividend of 118 per equity share. 

Aster DM said that the dividend is attributed to the proceeds from the sale of the GCC business.

Read here: Aster DM Healthcare declares special dividend of 118/share, stock near 52-week high-mark; check details

The company had recently concluded the separation of its India and GCC businesses, pursuant to which Affinity Holdings Limited (a wholly subsidiary of the Company) received a cash consideration of $907.6 million.

This event will result in a significant distribution of ~80% of the consideration of $907.6 million as a dividend to its shareholders. Despite this large special dividend, the company will still retain 1,500 crore from the sale of GCC business in the reserves under its balance sheet, Aster DM Healthcare said. 

Also Read: Aster DM Healthcare plans to double bed capacity to 10,000 through acquisitions, organic growth, says CEO

Aster DM Healthcare dividend record date is April 23. This means that the dividend will be payable to those shareholders whose names appear on the Register of Members of the company as on April 23. 

Also Read: TCS share price rises in a weak market; brokerages positive on stock after Q4 result

The special dividend will be paid within 30 days from the date of the declaration i.e. April 23, 2024.

The company’s board has decided not to declare an interim dividend for the financial year 2023-24 (FY24). However, it may consider the declaration of final dividend at the board meeting considering the approval of audited financial statements for FY24, said Aster DM Healthcare in its exchange filing.

Aster DM share price has gained more than 28% so far in 2024, while the stock is up over 112% in the past one year.

At 9:35 am, Aster DM Healthcare share price was trading 8.62% higher at 530.00 apiece on the BSE.

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Published: 15 Apr 2024, 09:35 AM IST
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