Panchsheel Organics Ltd is poised to draw attention in today’s trading session as it goes ex-dividend. The company’s board of directors, in a meeting on Friday, November 10, 2023, announced an interim dividend of ₹0.80 per share on equity shares with a face value of ₹10 each for the financial year 2023–24.
In an official exchange filing, the company stated, “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 ex-dividend date is crucial as it marks the day when the stock’s price adjusts to reflect the exclusion of its next dividend payout. From this day forward, the stock no longer includes the value of its upcoming dividend payment.
The record date, set by the board of directors for the interim dividend, is Monday, December 4. Shareholders whose names appear on the company’s list by the end of this date will be eligible to receive the dividend. The company aims to disburse the interim dividend within 30 days of declaration.
Panchsheel Organics Ltd has a history of dividend payouts, having declared 16 dividends since July 12, 2013, according to data from Trendlyne. In the last 12 months, the company declared an equity dividend of ₹3.20 per share. With a current share price of ₹194.80 (closing price on Friday), this translates to a 1.64% dividend yield.
As outlined on the company’s website, Panchsheel Organics boasts over three decades of experience in the healthcare industry. It is a prominent manufacturer and exporter of finished formulations for both human and veterinary use, along with intermediates and active pharmaceutical ingredients (APIs). The company emphasizes a market-driven approach, incorporating a strong foundation in research and development and a commitment to technology. Panchsheel adheres to Schedule “M,” GMP, WHO standards, and other relevant norms.
