“As on today when we have done the cashflow calculations in our desire to repay the debt, we have kept a provision so that we will continue to have the dividend maintained,” Shanghvi said.
At the end of the March quarter, Sun Pharma had a total of 6.6 lakh small retail shareholders, or those with an authorized share capital of up to ₹2 lakh.Starting February 2022, shareholders of Sun Pharma have received ₹62 per share as dividend payouts.
Shanghvi went on to add that whatever decision the board takes with regards to the future dividend policy, it will factor in the shareholder preference before coming to a conclusion and keep people informed as well.
Earlier this morning, Sun Pharma announced the acquisition of US-based Organon at an enterprise value of $11.75 billion and an equity value of close to $4 billion. The deal will make the company the third-largest player in women’s health, while it will be accretive for the company’s Earnings per Share (EPS) from the first day itself.
Shares of Sun Pharma are currently trading 7.1% higher on Monday after the deal announcement. At the day’s high, the stock had seen the biggest single-day gain since July 2021.
