Aster DM Healthcare announces special dividend of ₹118 per share; check record date, other details
Upstox
2 min read • Updated: April 13, 2024, 10:09 AM
Summary
While a special dividend was announced, the company's board did not declare an interim dividend for FY24. However, a final dividend may be considered in the board meeting that will be called to approve the release of financial results, Aster DM Healthcare informed the exchanges.
The board of directors of Aster DM Healthcare has given its nod for the payout of a special dividend of ₹118 per share, a regulatory filing stated on Friday, April 12. The amount will be paid to all shareholders whose names stand on the register of members of the company as on the record date, it noted.
Notably, the record date for determining entitlement of the shareholders to the special dividend has been fixed as “April 23, 2024”, Aster DM Healthcare informed the exchanges.
The special dividend has been declared on “account of the receipt of proceeds from the sale of the GCC business and redemption of Redeemable Preference shares issued to the Company by Affinity Holdings Pvt Ltd , a wholly owned material subsidiary of the Company, on 49,95,13,060 equity shares of INR 10/- each”, it said.
The GCC or the Gulf Cooperation Council business was sold by Aster DM Healthcare in November last year, at a value of $1.3 billion, which was higher than what analysts had estimated.
No interim dividend
The company’s board did not declare an interim dividend for financial year 2023-24 in the meeting held on April 12. However, the board may consider giving its nod for the release of a final dividend in the meeting that will be called to approve the release of financial results.
“The board may consider declaration of final dividend for the financial year 2023-24 at the board meeting considering the approval of audited financial statements for FY 2023-24,” Aster DM Healthcare said, without specifying the date of the next meeting.
Notably, the announcements were made by Aster DM Healthcare following the conclusion of market hours on April 12. The hospital network operator’s scrip settled at ₹487 apiece on the National Stock Exchange (NSE), up 2.47% as against the previous day’s close.
Year-to-date, the company’s shares have rallied by 20.56%, whereas, the value has surged by 95.54% in the last one year period.
In the quarter ended December 2023, Aster DM Healthcare had reported a net profit of ₹949 crore, up 23% year-on-year. The revenue from operations had climbed to ₹3,711 crore, as compared to ₹3,201 crore in the year-ago period.