Returns: 6,693%: Pharma Penny Stock Ex-Dividend For Rs 40/Sh Payout After 9 Years Below Rs 75; Own Something?
Pharmaceutical penny stock Fortis Malar Hospitals, which is now trading at less than Rs 75, has gone ex-dividend and will pay out its highest-ever dividend of Rs 40 per share. Additionally, since September 2015, this is the first dividend suggestion. On the BSE, Fortis Malar has gained more than 6,693% in total.
April 23 was Fortis’s ex-dividend date. Because the stock on this particular day froze at its 5% upper circuit limit, there were only buyers in the stock and no sellers. At Rs 71.33 each, it concluded. The market value of the firm is Rs 133.68 crore.
Fortis Malar shares have increased 19% year-to-date (YTD), by around 43.5% in a year, and by approximately 25.58% in five years. However, the all-time increase for Fortis Malar is around 6,693.33%. On July 6, 1999, the stock price was only Rs 1.05 a share.
On the total issued, subscribed, and paid-up share capital of the company, which consists of 1,87,41,759 equity shares with a nominal value of Rs. 10/- (Rupees ten only), Fortis proposed an interim dividend of Rs. 40/- (Rupees forty only) per equity share of Rs. 10/- apiece.
The board of the company has determined to declare an interim dividend of 400% (based on the face value of Rs. 10 per share). The board determined this amount after considering a number of factors, including the company’s obligations under various agreements, contingencies, and distributable free reserves.
Within 30 days after the date of declaration, the dividend will either be deposited to the shareholders’ accounts or a dividend warrant will be issued in relation to it.
In September 2015, Fortis Malar last paid dividends of Rs 0.50 per share. Prior to that, in 2013, the firm paid a dividend of Rs. 0.50 per share.
The issue price of Bursa Malaysia Securities Berhad’s open offer has been modified as a result of the dividend distribution.
Fortis Malar stated in its regulatory filing that IHH Healthcare Berhad, Parent Company of Northern TK Venture Pte. Ltd. (“NTK-promoter of Fortis Healthcare Limited”), had communicated with the Bursa, Malaysia, and Singapore Stock Exchanges regarding the adjustment of the offer price for the purchase by NTK, IHH Healthcare Berhad, and Parkway Pantai Limited of up to 4,894,308 (four million, eight hundred and ninety-four thousand, three hundred and eight only) equity shares of the Company with a face value of INR 10/-each. April 17 is when the decision was made.
In the open offer, the price was changed from Rs 60.1 per share to Rs 20.1 per share.
Originally founded in 1992 as Malar Medical, Fortis Malar Hospital has grown to become a well-known brand in Chennai for tertiary care medical services. Malar Hospital Limited was bought by Fortis Healthcare, the hospital network in India that is expanding at the quickest rate, in 2007.
Fortis Malar Hospital, Chennai, a 180-bed multispecialty tertiary care facility, provides comprehensive medical care in over 40 specialties, including cardiology, neurology, neurosurgery, orthopaedics, nephrology, gynecology, gastroenterology, urology, pediatrics, and diabetes. The hospital specializes in providing specialized patient care services and state-of-the-art medical technologies.
Over 160 specialists and 650 staff members work at the hospital to oversee more than 11,000 inpatients. The most sought-after medical destination in Chennai is Fortis Malar Hospital because of its steadfast dedication, accuracy, and well-coordinated workforce.
