1500% dividend: Divi's Laboratories shares hit upper circuit - Should you buy?

Divi's Laboratories Dividend 2024: Divi's Laboratories has announced their quarterly results along with dividends for the investors. The company, which posted stronger-than-expected Q4FY24 results, has declared a final dividend of Rs 30 or 1500 per cent per equity share of face value of Rs 2 each.

"Recommended a final dividend of ₹ 30/- (i.e. 1,500%) per equity share of face value ₹ 2/- each for the financial year 2023-24, subject to the approval of the members at the ensuing 34th Annual
General Meeting (AGM)," the company said in an exchange filing.

Divi's Laboratories Dividend Record Date

The company has informed exchanges that the record date for this corporate action has been fixed as August 02, 2024.

"The record date for the purpose of the payment of dividend is August 02, 2024," the filing reads.

A record date is important as it helps companies to identify the eligibility of shareholders for the corporate action.

Divi's Laboratories Share Price 

The stock of Divi's Laboratories opened at Rs 4272.35, a gain of Rs 149.6 from the previous close of Rs 4122.75. It went on to surge over 5.67 per cent to hit a fresh 52-week high of Rs 4,356.85.

Last seen, the counter was trading at Rs 42877.50 on the BSE. The scrip has a positive return of 22 per cent in one year and has gained around 14 per cent in six months.

Divi's Laboratories Share: Buy, Sell or Hold?

Brokerage firm Jefferies has maintained a hold rating but raised the target to Rs 4,050 from Rs 3,610. Meanwhile, Goldman Sachs has maintained a neutral target and raised the target price to Rs 4,020 from Rs 3,640.