During today’s closing session, Abbott India, a large-cap pharmaceutical company, had a market cap of ₹44,357.92 Cr. Abbott India Limited is a subsidiary of Abbott’s international pharmaceutical business in India and one of the country’s fastest-growing pharmaceutical firms. The company has declared a whopping dividend of ₹325 per share for its eligible shareholders.
“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 19, 2023, recommended payment of final dividend of Rs. 180/- and special dividend of Rs. 145/- per equity share of ₹10/- each for the year ended March 31, 2023, subject to approval of the Shareholders at the ensuing Seventy-ninth Annual General Meeting of the Company scheduled to be held on August 9, 2023. The aforesaid final and special dividends, if approved by the Members, will be paid on and after Wednesday, August 16, 2023 onwards,” said Abbott India in a stock exchange filing on Friday.
The company reported a net income of ₹1,392.72 Cr during Q4FY23 up by 9.15% YoY from ₹1,276.07 Cr in Q4FY22. The company’s revenue from operations stood at ₹1,343.08 Cr during the quarter ended March 2023 compared to ₹1,254.75 Cr during the quarter ended March 2022.
The net expenses of the company stood at ₹1,084.31 Cr compared to Rs 983.77 Cr during the year-ago quarter, up by 10.21 % YoY. The net profit of Abbott India reached ₹231.42 Cr during the quarter under review up by 9.46% YoY from ₹211.41 Cr during Q4FY22. The Q4FY23 EPS of Abbott India stood at ₹108.90 compared to ₹99.49 in the corresponding quarter of previous year.
Abbott India has announced an equity dividend of 2750.00% at a face value of ₹10, or ₹275 per share, for the fiscal year ending March 2022. This generates a dividend yield of 1.32% at the current share price of ₹20,950. The company has a solid track record of dividend declarations during the past five years. Abbott India Ltd. has issued 27 dividends since May 21, 2001, according to data from Trendlyne.
The shares of Abbott India closed today on the NSE at ₹20,950 apiece level down by 0.10% from the previous close of ₹20,970.55. The stock touched a 52-week-high of ₹23,140.00 on (10-Apr-2023) and a 52-week-low of ₹17,325.00 on (19-Sep-2022).
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