Pharmaceutical company Novartis India has announced that it will pay a dividend of Rs 47.50 to eligible investors.
The company revealed this information on Friday, May 12th, adding that the dividend will be paid on or after August 2, 2023.
Details of the Dividend
Novartis India will pay a final dividend of Rs 10 on a share with a face value of Rs 5.
In addition, a one-time special dividend of Rs 37.50 will be paid to investors on a share of face value of Rs 5 only.
This means that the company will give a dividend of Rs 47.50 on one share to qualified investors.
March Quarter Performance
According to information shared by the company, the operational revenue for the quarter ended March 2023 was Rs 76.13 crore, a decrease of 22.57 percent compared to the same quarter last year.
The company’s net income for the quarter January to March 2023 was Rs 92.50 crore, which is a decrease of 117.87 percent compared to FY 2022.
Stock Performance
On Friday, May 12th, the company’s stock fell by 0.52 percent to Rs 669.30.
