The Board of Directors of Abbott India have recommended a final dividend of 1450% and a special dividend of 1300% on the face value of their shares. Abbott India is a large-cap pharmaceuticals firm with a market capitalization of 37,976 crores.

Their shares have a face value of ₹10 apiece. This sums up to a final dividend of ₹145 per share and a special dividend of ₹130 per share, or ₹ 275 per share. The dividend yield of the company is at 1.52%

“Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors at its Meeting held today i.e. May 17, 2022, recommended payment of a final dividend of Rs. 145/- and a special dividend of Rs. 130/- per equity share of ₹10/- each for the year ended March 31, 2022, subject to the approval of the Shareholders at the ensuing Annual General Meeting scheduled to be held on August 10, 2022,” the company said in an exchange filing.

Further, they have informed the BSE, “we hereby inform you that the Register of Beneficial Owners, Register of Members and Share Transfer Books of the Company shall remain closed from Thursday, August 4, 2022, to Wednesday, August 10, 2022 (both days inclusive) for the purpose of Annual General Meeting and payment of Dividend.”

The company’s shares are currently trading at ₹ 17872.05 apiece, down 0.48% from their previous close. The company reported a net profit of ₹ 799 crores for the year ended March 31, 2022, up 15.62% as compared to ₹691 crores in the year-ago period.

Written By – Simran Bafna

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