Sanofi India Pharma stock announces a dividend of 1930% ; Do you own it?

Pharma stock announces a dividend of 1930% or ₹ 193 per share; Do you own it?

sanofi India dividend stocks

Introduction

The board of directors of pharma company Sanofi India has recommended a special dividend of ₹193 against face value of ₹10 per equity share (1930 per cent) for the financial year ending on 31st December 2022, and the company board announced this decision theirs after its scheduled board meeting held on 26th July 2022, also the board also fixed 8th August 2022 as record date for one time special dividend payment, it informed Indian bourses about the special dividend payment while citing, “The Board of Directors of the Company at its Meeting held today has now declared One-Time Special Interim Dividend of Rs. 193 per equity share of Rs. 10 each for the financial year ending at 31st December 2022., and the Meeting of Board of Directors which commenced at 2.00 p.m. and concluded at 5.10 p.m, and as informed earlier the Company has now fixed 8th August 2022 as the record date for the purpose of payment of the One-Time Special Interim Dividend, and the said dividend will now be paid on or after 22nd August 2022.”

Company Profile

Sanofi India Limited previously known as Aventis Pharma Limited is now amongst the leading multinational companies in the Indian Pharmaceutical Market, and it offers a wide array of medicines for therapy areas like Diabetes Cardiology Thrombosis Central Nervous System and Antihistamines, and the products manufactured by the company are distributed all around in India and also exported to many developed as well as developing countries which including Germany Australia UK Russia and Italy, and it’s products which are Lantus Combiflam Amaryl and Allegra feature in the top 100 pharmaceutical brands in India, and the company has its own manufacturing facility to produce at Goa and Ankleshwar Gujarat, and the company also has various independent contract/third party manufacturers based across the country, it is also one of the world’s leading pharmaceutical companies and its 100% subsidiary Hoechst GmbH are the major shareholders of Sanofi India Limited and together hold 60.4% of its paid-up share capital, whereas the company was incorporated in May 1956 under the name Hoechst Fedco Pharma Private Limited, and over the years its name was changed numerous times to Hoechst Pharmaceuticals Private Limited Hoechst India Limited Hoechst Marion Roussel Limited Aventis Pharma Limited and Sanofi India Limited , and during the year 1997-98 the joint venture company Chiron Behring Vaccines Pvt Ltd had started to manufacture anti-rabbies vaccine ‘Rabipur’, while roussel India Ltd was amalgamated with the company which came in effect from April 1 1997 and Hoechst Nepal (Pvt) Ltd a subsidiary company in Nepal has also been wound up during the year, and during the year 1999-2000 Aventis has launched anti-diabetic Amaryl broad spectrum anti-infective Tavanic and line extension of anti-hypertensive Cardace H., and in the year 2001 Rhone-Poulenc Rorer (India) Pvt Ltd was combined with the company, and the company name was changed from Hoechst Marion Roussel Ltd to Aventis Pharma Ltd which came in effect from July 11 2001, and in July 2003. the company launched Lantus which was the world’s first and only once-a-day insulin and in December 2003 Actonel designed for the treatment of osteoporosis was launched, while in the year 2004 the company came under the control of Sanofi-Synthelabo which is now called Sanofi-aventis which then acquired indirect control 50.1% of the company’s paid-up share capital, and in the year 2006 the company completed the project for setting up additional facilities to be able to manufacture Combiflam Tablets in Ankleshwar Gujarat, and in the year 2007 the company launched Cardace H 10 mg as a comprehensive cardiovascular treatment option in hypertension at-risk patients, while in May 2007 the company launched a line extension Amaryl M. A new granulation train was dedicated for production of Combiflam tablets was installed in Ankleshwar. This product was being manufactured partly in a toll manufacturing but the site is now planned to be manufactured entirely in Ankleshwar, and in April 2008 the company launched a new prefilled disposable insulin pen SoloStar with the 24-hour insulin Lantus. This disposable insulin pen is to be used for the treatment of hyperglycemia for people with type 1 or type 2 diabetes, and on 13 December 2010 Aventis Pharma Ltd announced that it has agreed with its joint venture partner Novartis Vaccines & Diagnosics Inc. to now sell its 49% shareholding in Chiron Behring Vaccines Private Limited (CBVPL) to Novartis Pharma AG and exit the joint venture, wherein the purchase price agreed to be paid in US Dollars 22.399 million, and simultaneously Aventis Pharma has agreed to continue to be providing certain utilities and services to the Ankleshwar plant of CBVPL for three years from the date of closing on mutually accepted terms. CBVPL manufactures the anti-rabies vaccine Rabipur at their plant in Ankleshwar which was until February 2009 distributed in India by Aventis Pharma and is now presently distributed by Novartis Healthcare Private Limited, while on 27 December 2010 Aventis Pharma Ltd announced that it has then completed the sale of its 49% shareholding in Chiron Behring Vaccines Private Limited to Novartis Pharma AG. The company received a sale consideration of Rs 100.75 crore (equivalent to US Dollars 22.399 million).On 24 August 2011 Aventis Pharma Limited (part of the Sanofi Group) announced that it has now entered into a definitive agreement to acquire Universal Medicare Private Limited’s business of marketing and distribution of branded nutraceutical formulations in India, and also approximately 750 commercial employees will be able to transition to Aventis Pharma Ltd, and the transaction has been approved by the Boards of Directors of both companies, and it is expected to close in the fourth quarter of 2011 subject to the certain conditions precedent, while Universal Medicare (headquartered in Mumbai India) manufactures markets and distributes branded nutraceutical formulations in India through their sales and marketing infrastructure, and with this acquisition Aventis Pharma will advance its sustainable growth strategy in India and facilitate the creation of a consumer healthcare and wellness platform, and the Registrar of Companies approved the company’s change of name from Aventis Pharma Limited to Sanofi India Limited which came in effect from 11 May 2012, and the shareholders of the company had earlier approved the name change at the Annual General Meeting held on 3 May 2012, whle the decision to change the name of the Group’s listed entity in India comes a year after the name of the parent company was then changed globally from sanofi-aventis to Sanofi in May 2011, and on 14 February 2013 Sanofi India Limited announced the launch of Combiflam Plus which targeted towards a fast and effective solution for headaches that is also gentle on the stomach., and a line extension of one of the company’s flagship brand which was Combiflam and the launch of this new product marks the company’s foray into the OTC headache segment in India.On 11 November 2014 Sanofi India announced that its Board of Directors has now approved the company selling its commercial premises which comprised five floors and corresponding car-parking spaces in the building known as Hoechst House situated at Nariman Point Mumbai to Bright Star Investments Private Limited &its Group companies for a total consideration of Rs 134.25 crore.On 21 July 2015 Sanofi India announced that its Board of Directors has approved to sell of the company’s commercial property which was land and building at Andheri Mumbai for the amount of Rs 111 crore. The transaction is expected to be completed in the quarter which is ending on 30 September 2015, and in August 2017 the first OTC extension of the iconic brand Combiflam was launched in the topical pain care space with the name Combiflam Icy Hot, and on 12 February 2018 Sanofi India announced the launch of its new insulin product Toujeo, this is a once-daily long-acting basal analog insulin that improves glycemic control in adults with type 1 and types 2 diabetes.

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