Torrent Pharma's bonus shares to be issued next week: Are you eligible?
Premium- Torrent Pharma has announced bonus share in the ratio of 1:1
The board of directors of Torrent Pharma company has fixed next week, Monday, 11th July 2022 as the record date for its bonus shares issue. The the pharma stock is going to turn ex-bonus stock this Friday. Shareholders and members of the board will decide eligible shareholders for the payment of 1:1 bonus share.
The issuance of bonus share by Torrent Pharma is another big news for its shareholders and stock market observers as the company has given 460 per cent dividend to its shareholders in the fourth quarter of the financial year 2021-22 that includes special dividend of ₹15 per equity share. The pharma company has already given ₹25 per share dividend to its shareholders in the previous quarter.
Torrent Pharma bonus shares detail
Informing Indian exchanges about the bonus share record date, Torrent Pharma said, "Pursuant to Regulation 42 of Listing Regulations,. the Company has fixed Monday, 11th July, 2022 as the Record Date for the purpose of determining the names of Members who shall be entitled for allotment of bonus equity shares in the ratio of 1: 1 i.e. 1 (One) new fully paid-up equity share of ₹5/- each for every 1 (One) fully paid-up equity share of ₹5/ each held by the existing Members of the Company."
In June 2022, Torrent Pharma announced 460 per cent dividend as well. In its exchange communication to the Indian bourses, Torrent Pharma informed in June 2022, "A final dividend of Rs. 23/- (460%) per equity share of Rs. 5/- each including the special dividend of Rs. 15/- per equity share. The final dividend amount, if declared by the Shareholders, is proposed to be paid/ dispatched on or around 4th August, 2022. Earlier an interim dividend of Rs. 25/- (500%) per equity share was paid during the last quarter."
Torrent pharma annual dividend yield
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Torrent Pharma share price today is ₹2900 per share. The pharma stock has announced a dividend of ₹23 per equity share, including special dividend of ₹15 per share in Q4 FY22 while it has already given ₹25 per equity share dividend in previous quarter. So, the pharma company has announced a dividend of ₹48 per equity share in the financial year 2021-22. So, current annual yield of the pharma stock is 1.65 per cent [( ₹48 / ₹2900) x 100].