Glenmark Life Sciences Limited, a leading pharmaceutical company in India, has recently announced an interim dividend of Rs. 21.00 per share for its shareholders. The ex-date and record date for the dividend are both set for March 24, 2023. This news has generated a lot of interest in the stock market, as investors eagerly anticipate the payout.
Dividends are a way for companies to share their profits with their shareholders. When a company makes a profit, it can choose to reinvest that money back into the business or distribute it to its shareholders as dividends. Dividends are typically paid out in cash or stock, and the amount paid is determined by the company’s board of directors.
For investors, dividends can be an attractive source of income. Dividend-paying stocks are often viewed as less risky than non-dividend-paying stocks, as they provide a steady stream of income regardless of market conditions. Additionally, dividend-paying stocks can be a good option for investors looking to diversify their portfolios.
Glenmark Life Sciences Limited has a strong track record of paying dividends to its shareholders. In the previous fiscal year, the company paid a total dividend of Rs. 26.00 per share, which represented a dividend yield of 0.83%. The company’s dividend payout ratio, which measures the percentage of earnings paid out as dividends, was 14.29% for the same period.