1,150% dividend: This pharma stock to trade ex-date on Tuesday

Glenmark Life Sciences dividend record date 2023: Mumbai-based active pharmaceutical ingredients (API) manufacturer Glenmark Life Sciences earlier announced a dividend of Rs 22.5 per equity share, its first interim dividend for the financial year.

Glenmark Life Sciences dividend record date 2023: Mid-cap pharmaceutical company Glenmark Life Sciences’ shares will trade ex-dividend on Tuesday, October 17.Image: Official website

Glenmark Life Sciences dividend record date 2023: Mid-cap pharmaceutical company Glenmark Life Sciences’ shares will trade ex-dividend on Tuesday, October 17. Mumbai-based active pharmaceutical ingredients (API) manufacturer Glenmark Life Sciences earlier announced a dividend of Rs 22.5 per equity share, its first interim dividend for the financial year. This translates into a 1,125 per cent payout given the face value of Rs 2 each.

Glenmark Life Sciences dividend record date 2023

The company’s board has fixed October 17 as the record date for the interim dividend. "As intimated vide our letter dated October 04, 2023, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Tuesday, October 17, 2023," the company's filing read.

What is a record date?

A record date is a date that determines the shareholders eligible to benefit from corporate action such as dividends.

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Glenmark Life Sciences dividend payout date: When will the latest dividend by Glenmark Life Sciences be paid?

The company has said the interim dividend will be paid to shareholders on or after October 23.

Glenmark Life Sciences dividend history

According to stock research portal Trendylne, the company has declared four dividends since November 2021. For the financial year 2022-23, the company doled out a dividend of Rs 21 per share or 1,050 per cent. At the current share price of Rs 650.5, this translates into a dividend yield of more than three per cent.

Glenmark Life Sciences share price history

Glenmark Life Sciences shares have rewarded investors with a return of nearly 60 per cent in the past year, sharply outperforming a 13.8 per cent rise in the headline Nifty index.