Aster DM hits life high on special dividend of Rs 118/share

Aster DM Healthcare surged 7.67% at Rs 525.40 after the company said its board has declared a special dividend of Rs 118 per equity share.

The record date for the said dividend is set on Tuesday, 23 April 2024 and the dividend will be paid within 30 (thirty) days from the date of the declaration.

The company stated that the special dividend will be paid from receipt of proceeds from the sale of the GCC business and redemption of redeemable preference shares issued to the company by Affinity Holdings, a wholly owned material subsidiary of the company, on 49,95,13,060 equity shares of Rs 10 each.

Further, the board has decided not to declare an interim dividend for the financial year 2023-24. However, it may consider declaration of final dividend for the financial year 2023-24.

On the BSE, 9.66 lakh shares were traded in the counter so far compared with average daily volumes of 1.11 lakh shares in the past two weeks.

Aster DM Healthcare is primarily involved in the operations of healthcare facilities, retail pharmacies, and providing consultancy in areas relating to healthcare.

The company's consolidated net profit increased 28.56% to Rs 179.21 crore on 16.24% increase in net sales to Rs 3,710.61 crore in Q3 FY24 over Q3 FY23.

The counter hit a all-time high of Rs 558.30 in todays intraday session.

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