BackDividend Stocks: Panchsheel Organics to trade ex-dividend today
Stock Market News: Panchsheel Organics Ltd shares will trade ex-dividend today as the board of directors declared an interim dividend of ₹0.80 per share for the financial year 2023–24.
PremiumPanchsheel Organics Ltd shares will be under investors’ radar on Monday's trade as they will trade ex-dividend today. The board of directors declared an interim dividend of ₹0.80 per share with a face value of ₹10 each for the financial year 2023–24.
"The board of directors at the meeting held on Friday, November 10, 2023, declared an interim dividend of ₹0.80 per share on equity shares of face value of ₹10/- each, which is 8% of paid-up share capital," the company said in an exchange filing.
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The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.
Dividends are payable to all shareholders whose names appear on the company's list by the end of the record date.
The board of directors has set Monday, December 4, as the record date for the purpose of paying the interim dividend, according to the exchange filing. After it is declared, the interim dividend will be paid out within 30 days.
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Since July 12, 2013, Panchsheel Organics has declared 16 dividends, according to trendlyne data. Panchsheel Organics Ltd declared an equity dividend of ₹3.20 per share during the last 12 months. With the share price of ₹194.80 (Friday's closing) currently, this translates into a 1.64% dividend yield.
According to information available on the company's website, with over three decades of experience in the healthcare industry, Panchsheel Organics is a manufacturer and exporter of finished formulations for both human and veterinary use, as well as intermediates and active pharmaceutical ingredients (APIs).
With a strong R&D foundation and a focus on technology, Panchsheel is a market-driven company that strives for innovative production to carve out a niche for its products. It conforms with Schedule "M," GMP, and WHO standards, as well as all other applicable norms.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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