Glenmark Life declares interim dividend of ₹21/share. Share jumps
1 min read 17 Mar 2023, 10:52 AM ISTDividend stock: Glenmark Life share price today shot up near 8 per cent after the declaration of dividend record date
PremiumDividend stock: The board of directors of Glenmark Life Sciences Ltd has announced interim dividend for the financial year 2022-23. The pharma company has declared an interim dividend of ₹21 per share for its eligible shareholders. The company has fixed 24th March 2023 as record date for finalising the eligible shareholder for payment of this interim dividend.
After this stock market newsbreak, Glenmark Life share price today opened with an upside gap and went on to hit intraday high of ₹417.70 apiece levels, rising to the tune of 8 per cent within few minutes of stock market's opening bell today. However, profit booking triggered soon in this dividend stock and it retraced from intraday highs to around ₹400 per share levels by the end of an hour of Friday session.
Informing Indian bourses about the interim dividend, the dividend paying stock said, "This is to inform you that the Board of Directors ('Board') of the Company has at its meeting held today i.e. March 16, 2023, inter-alia, declared Interim Equity Dividend for the financial year 2022-23 of Rs. 21/- per equity share of Rs. 2 each. As intimated vide our letter dated March 14, 2023, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Friday, March 24, 2023. The interim dividend will be paid to such shareholders on or after March 29, 2023."
Glenmark Life Sciences dividend history
This is the second time when Glenmark Life Sciences Ltd would trade ex-dividend in the financial year 2022-23. Earlier on 15th September 2022, Glenmark Life Sciences traded ex-dividend stock for payment of ₹10.50 per share final dividend to its eligible shareholders.
The dividend stock has a market cap of ₹4,934 crore and it is available for trade on both NSE and BSE. Its 52-week high is ₹534 per share on NSE whereas its 52-week low is ₹370 apiece on NSE. The stock is standing at a PE multiple of 11.72 whereas sector multiple is 26.38. So, the dividend stock is available at an attractive valuations in comparison to its peers.
