Pfizer has surged 6% to Rs 1,516 after announcing a special interim dividend of 36000% or Rs 360 per share.
The stock opened at Rs 1,570 and hit a high of Rs 1,599, also its record high on NSE. A combined around 140,000 shares changed hands on the counter so far on NSE and BSE.
“The board of directors of the company at their meeting held on November 23, 2013 has approved the payment of interim dividend of Rs 360 per equity share of Rs 10/- each (3600%) to the shareholders of the company. The said interim dividend will be paid on December 17, 2013,” Pfizer said in a statement.
Meanwhile, the board also approved the scheme of amalgamation of the Wyeth with Pfizer.
The equity shareholders of Wyeth will get 7 fully paid up equity shares of Rs 10 each of Pfizer for every 10 fully paid up equity shares of Rs 10 each of Wyeth, it added.
The stock opened at Rs 1,570 and hit a high of Rs 1,599, also its record high on NSE. A combined around 140,000 shares changed hands on the counter so far on NSE and BSE.
“The board of directors of the company at their meeting held on November 23, 2013 has approved the payment of interim dividend of Rs 360 per equity share of Rs 10/- each (3600%) to the shareholders of the company. The said interim dividend will be paid on December 17, 2013,” Pfizer said in a statement.
Meanwhile, the board also approved the scheme of amalgamation of the Wyeth with Pfizer.
The equity shareholders of Wyeth will get 7 fully paid up equity shares of Rs 10 each of Pfizer for every 10 fully paid up equity shares of Rs 10 each of Wyeth, it added.