11 Aug , 2022 By : Kanchan Joshi
Multibagger stock: Divi's Laboratories shares are one of the multibagger stocks that Indian stock market has produced in recent years. The stock is in focus today as it is going to trade ex-dividend today. The board of directors of the company has recommended a dividend of Rs30 per equity share to its shareholders for the financial year 2021-22. The pharma company board has fixed 12th August 2022 as 'record date' for dividend payment.
Informing Indian stock market exchanges about the decision, the dividend paying stock management said, "Further to our letter dated May 13, 2022, we would like to inform that the Board of Directors of the Company at its meeting held on Monday, May 23, 2022 has recommended a Dividend of~ 30/- (i.e. 1500%) per equity share of face value ~ 2/- each for the financial year 2021-22, subject to approval of the members at the ensuing 32nd Annual General Meeting (AGM). The dividend shall be credited/ warrants thereof dispatched within 30 (thirty) days from the conclusion of the AGM. The AGM date and book closure / record date for the purpose of the payment of dividend will be informed in due course."
Divi's Lab dividend record date 2022
On Divi's Lab dividend for FY22, the company informed exchanges citing, "The Company has fixed Friday, August 12, 2022 as the "Record Date" for the purpose of determining the Members eligible to receive dividend for the financial year 2021-22, if approved at the AGM."
Divi's Lab share price history
In last one year, this dividend paying pharma stock has remained under the sell off heat. But, the stock has a history of delivering stellar return to its shareholders. In last one year, the stock has slipped over 15 per cent whereas in last 5 years, it has risen from around Rs630 to Rs3,940 apiece levels, delivering over 500 per cent return to its shareholders.
Divi's Lab share price today is Rs3,940 apiece and the dividend announced for FY22 is Rs30 per equity share, which means annual dividend yield of this multibagger pharma stock is 0.76 [(30 /3940) x 100].