Sanofi India has announced a total dividend of ₹ 377 per share. This includes a final dividend of ₹ 194 per share and a special dividend of ₹ 183 per share. It is a small-cap company engaged in the business of manufacture and sale of pharmaceutical products.
The record date for determining the eligibility of shareholders for the payment of the above dividend is April 29, 2023. As a result, the register of members will be closed from Saturday, 29th April 2023 to Thursday, 11th May 2023 (both days inclusive) for the purpose of payment of the final and second special dividend for the year 2022.
According to an exchange filing, Sanofi has already paid a one-time special interim dividend of ₹ 193/- per equity share on 22nd August 2022. This means that the company has declared a total dividend of ₹ 570 for FY 2022-23.
In accordance with the provisions of the Income-tax Act, dividends are taxable in the hands of the members (shareholders), therefore, companies have to deduct TDS at applicable rates. No TDS is deducted in the case of resident individual shareholders if the amount of such dividend in aggregate during the financial year does not exceed ₹ 5,000.
Sanofi India’s shares closed at ₹ 5975.85 apiece on the National Stock Exchange (NSE). It has a market capitalization of ₹ 13,794 crores, a high return on equity of 35.45% and an ideal debt-to-equity ratio of 0.02. Its shares were trading at a price-to-earnings ratio of 22.23 which is higher than the industry P/E of 28.01. Moreover, it has a high dividend yield of 3.24%.
Written by Simran Bafna
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