Summary
Dividend Stocks: The company’s shares continue to rise. The stock has given a return of 50 percent from January to October.
This company is Glenmark Life Sciences. Recently, pharma sector company Glenmark has sold its subsidiary Glenmark Life Sciences. Nirma has bought it. Now the company said in the information given to the exchange that the dividend will be considered in the board meeting to be held on October 9.
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If a decision is taken on dividend, its record date will be October 17. Record date means that on this day the name of any investor has been included in the records of the company as a shareholder. In fact, shares are transferred at least a day after the investor buys or sells the shares. That is why companies check their accounts and fix a date that only if you have shares in your account till the record date, you will get dividend.
Glenmark Life Sciences had earlier given a huge dividend of Rs 21 per share in March 2023. Dividend of Rs 10.5 was given in September 2022 and Rs 10.5 in November 2021.
Approval has been given to sell 91.89 crore shares of Glenmark Life Sciences i.e. 75 percent stake to Nirma. This deal has been done at Rs 615 per share and the entire deal is worth Rs 5651.5 crore. Under the terms of this transaction, Glenmark, GLS and Nirma will remain bound by non-compete and non-solicit arrangements for a certain period.