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This large cap pharma stock recommends final and special dividend: Key takeaways

Abbott India Ltd is a large-cap pharmaceuticals firm with a market capitalization of  ₹38,220.27 crore. Abbott India Limited, one of India's leading pharmaceutical firms, is part of Abbott's global pharmaceutical market in India.Premium
Abbott India Ltd is a large-cap pharmaceuticals firm with a market capitalization of 38,220.27 crore. Abbott India Limited, one of India's leading pharmaceutical firms, is part of Abbott's global pharmaceutical market in India.

  • The Board of Directors of Abbott India has recommended a final dividend of 1450 percent and a special dividend of 1300 percent with a stock face value of 10 for the fiscal year ending March 31, 2022.

Abbott India Ltd is a large-cap pharmaceuticals firm with a market capitalization of 38,220.27 crore. Abbott India Limited, one of India's leading pharmaceutical firms, is part of Abbott's global pharmaceutical market in India. The company's Board of Directors has recommended a final dividend of 1450 per cent and a special dividend of 1300 per cent with a stock face value of 10 for the fiscal year ending March 31, 2022.

In a BSE exchange filing, the company has said “Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors at its Meeting held today i.e. May 17, 2022, recommended payment of final dividend of Rs. 145/- and special dividend of Rs. 130/- per equity share of 10/- each for the year ended March 31, 2022, subject to approval of the Shareholders at the ensuing Annual General Meeting scheduled to be held on August 10, 2022."

The company have also informed BSE that “we hereby inform you that the Register of Beneficial Owners, Register of Members and Share Transfer Books of the Company shall remain closed from Thursday, August 4, 2022 to Wednesday, August 10, 2022 (both days inclusive) for the purpose of Annual General Meeting and payment of Dividend."

In today's closing session the stock's last traded price was 17,921.55 up by 0.98% from its previous close of 17,748.15. Abbott India's stock has risen 11.47 per cent in the last year, from 16,076.95 on June 9, 2021 to the last traded price. The stock has fallen 7.07 per cent year-to-date (YTD) in 2022, and 4.97 per cent in the previous six months. In the previous month, the stock has climbed by 7.30 per cent, and in the last five trading days, it has gained by 1.01 per cent. In fact, the stock has been rising over the last two days, returning around 0.96 per cent. The stock hit a 52-week high of 23,934.45 on 5th October 2021 and a 52-week low of 15,514.00 on 8th February 2022, indicating that it is now trading 15% above its 52-week low and 25% lower than its 52-week-high. Abbott India's shares are now trading higher than its 20-day, 50-day, and 100-day moving averages, but lower than its 5-day and 200-day moving averages.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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