Cipla board likely to announce final dividend for FY 2023-24 on May 10

For the fiscal year ending March 2023, Cipla declared an equity dividend of 425%, equivalent to Rs 8.5 per share.

Cipla, a leading pharmaceutical company, has disclosed in a stock exchange filing on April 5 that its Board of Directors will convene on May 10, to discuss and approve standalone and consolidated audited financial results for Quarter 4 and the year ended March 31, 2024. Additionally, the drugmaker said the Board will deliberate on recommending a final dividend for the financial year 2023-24, if any.

Cipla also stated that it would release Q4FY24 audited financial results on May 10.

Cipla has sustained its track record of consistent dividend declarations over the past many years, reflecting its commitment to rewarding shareholders.

For the fiscal year ending March 2023, Cipla declared an equity dividend of 425%, equivalent to Rs 8.5 per share.

In the preceding fiscal year 2021-22, Cipla declared an equity dividend of 250 percent, equivalent to Rs 5 per equity share, with a face value of Rs 2 per equity share.

Cipla was in the news on April 5 as the US Food and Drug Administration (USFDA) issued a Form 483 with six inspectional observations for the drugmaker's manufacturing facility in Patalganga, Maharashtra.

The pharmaceutical major Cipla reported a consolidated net profit of Rs 1,068.4 crore in the quarter ending December 2023, which is 32.25 percent higher as compared to the year-ago period.

In the trading session on April 5, the scrip settled at Rs 1449.40 apiece at the NSE, which was 0.70 percent down (or Rs 10.15) as against the previous day's close.