Pfizer surges 3% as investors cheer 350% dividend announcement; details

Pfizer Stock Soars: Shares of pharmaceutical company Pfizer jumped nearly 3 per cent to Rs 6,068.10 during intra-day trade on Wednesday. The northward movement in the rally follows the announcement of a whopping 350 per cent dividend, or Rs 35 per share, for FY24.

According to data available on the exchanges, shares of Pfizer are trading ex-dividend today, on August 21, 2024. The company had revised the record date to determine shareholder eligibility for the dividend payment to Wednesday, August 21, 2024, from Friday, August 16, 2024.

The eligibility for receiving a dividend on the ex-dividend date depends on whether the investor owns the company's stock before or on the said date. To qualify for the dividend, investors need to own the stock before the ex-date. Companies declare the beneficiaries of the dividend based on the list of investors recorded by the end of the record date.

Pfizer, a Mumbai-based pharmaceutical giant, provides medicines across therapeutic areas such as gynecology, orthopedics, urology, oncology, respiratory, cardiovascular, gastrointestinal, internal medicine, inflammation, and immunology.

As of today, Pfizer boasts a market capitalisation of Rs 27,363.78 crore on the BSE. The pharma major is a constituent of the BSE 500 index. BSE analytics reflect that the company's shares have surged 40.38 per cent year to date, outperforming the benchmark BSE Sensex's 11.72 per cent gain.

Meanwhile, the company's shares have offered consistent returns to its investors over the last year, rising by 18.33 per cent in the last one month, 32.68 per cent in the last six months, and 53.78 per cent over the last year, according to BSE data.

Shares of Pfizer have a 52-week range of Rs 6,097.35 to Rs 3,801.10 on the BSE.

As of around 12:00 PM, Pfizer shares were trading at Rs 5,981.45, up 1.41 percent from their previous close of Rs 5,898.15 on the BSE. On the NSE, the stock was trading at Rs 5,996.85, up 2.21 per cent. So far, nearly 0.32 lakh shares of Pfizer have exchanged hands, worth Rs 19.18 crore on the NSE.