Stock under Rs 100 to pay Rs 40 DIVIDEND per share; record date fixed

 

Dividend News: hospitals and healthcare industry player ha declared a dividend of Rs 40 per share for its shareholders. Since the dividend news came out, its share price has been hitting back-to-back upper circuits for the past four trading sessions. On Friday, its share price closed at Rs 98.13 on BSE. Check record date.

Dividend News: A part of the Fortis Hospital chain, Fortis Malar Hospitals has announced that it will pay a 400 per cent dividend to its shareholders.
A dividend is a reward that a company pays to its investors for their investment in the business. It is paid in cash from earnings. A dividend is always calculated and paid on the face value of each stock. The current face value of Fortis Malar Hospitals shares is Rs 10. Accordingly, the 400 per cent dividend translates into Rs 40 per share, marking its highest-ever dividend.
The company’s stock has been hitting back-to-back upper circuits for the past four trading sessions post this news came out on April 12.

Fortis Malar Dividend 2024 Announcement

“...With reference to our letter dated April 08, 2024, regarding intimation of record date for payment of interim dividend of Rs. 40/- per equity shares, as approved by the Board of Directors of the Company in its meeting held today i.e. April 12, 2024,” the company said via a regulatory filing.

Fortis Malar Hospitals Dividend Record Date and Payment Date

Fortis Malar Hospitals has set the ex-date for determining the eligibility of shareholders participation in the next dividend or upcoming corporate action. The record date and ex-date for the payment of the dividend is April 23.
The interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Tuesday, April 23, 2024, which is the Record Date fixed for the purpose," said the company in its regulatory filing.
According to BSE analytics, as on April 20, Fortis Malar Hospitals shares have climbed 64.04 per cent on an year-to-date (YTD) basis and have given a multibagger return of 102.37 per cent in just one month. The stock has traded northward by 66.60 per cent in six months and nearly doubled investors’ money in the past one year by zooming 99.25 per cent.
Fortis Malar Hospitals shares have a 52-week range of Rs 98.13 - Rs 44 on BSE. The company has a market cap of Rs 183.91 crore as on April 20, as per BSE website.

Fortis Malar Hospitals Dividend History

The company has earlier paid a dividend of Rs 0.5 per share in the month of September in 2015 and of Rs 0.50 per share in 2013 in the month of Septembe

Fortis Malar Hospital Deal

Earlier in 2023, MGM Healthcare Private Limited announced that it would acquire Fortis Malar Hospitals Limited in Chennai, according to a report by the Economic Times. The deal was reportedly done for Rs 128 crore. The hospital comprises 140 beds and is a landmark healthcare facility at Adyar, Chenani. It is a subsidiary of Fortis Healthcare and the only hospital from the Fortis group to be listed independently.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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