Pharma stock declares special interim dividend of ₹30 per share. Check record date
Premium- Pfizer said it has announced the special interim dividend in view of the gain on account of sale of Upjohn Business to Mylan Pharmaceuticals
Pharmaceutical company Pfizer on Tuesday informed that the company's board at meeting held on September 6, 2022 has decided to declare an interim special dividend of ₹30 for the financial year ending 2023. Shares of Pfizer were trading about 0.5% higher at ₹4,303 apiece on the BSE in Tuesday's afternoon deals.
"The board of directors at its meeting held today, i.e., September 6, 2022 has declared an Interim (Special) Dividend of Rs. 30/- per equity share of Rs. 10/- each (300%) for the financial year ending March 31, 2023, in view of the gain on account of sale of Upjohn Business to Mylan Pharmaceuticals Private Limited," Pfizer announced in an exchange filing todau.
Further, the company said that the said interim dividend will be paid to the eligible Members of the Company on or before Friday, September 30, 2022 and additionally informed that the Record Date for the payment of aforementioned dividend of Rs. 30/- (300%) per equity share is Tuesday, September 20, 2022.
Multinational pharma company Pfizer Ltd was listed on the Indian stock exchanges in 1966. In India, Pfizer has over 150 products in 15 therapeutic areas under 4 key business categories, that are: Vaccines, Hospitals, Internal Medicine, and Inflammation and Immunology. The pharma stock is down about 29% in a year's period whereas is has declined over 15% in 2022 (YTD) so far.
In October last year, the company had informed that ithas entered into an agreement with Mylan Pharmaceuticals to sell its Upjohn business, to transfer certain primarily off-patent branded and generic established medicines (Upjohn business) as a going concern to Mylan.
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Drug firm Pfizer reported 83% decline in consolidated net profit at ₹33 crore for June quarter 2022-23. The company had logged a net profit of ₹200 crore in April-June period a year ago. Meanwhile, its revenue from operations declined to ₹593 crore in the quarter from ₹749 crore in the year-ago period. The company said exceptional items for June quarter comprised ₹130 crore on account of a voluntary retirement scheme and ₹6 crore for restructuring to drive business transformation.
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