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Dabur may announce 125-150% dividend
May 15, 2003 16:24 IST
Dabur India is expected to announce the highest ever 125-150 per cent dividend as well as the swap ratio for the proposed demerger of pharma and FMCG businesses at its board meeting scheduled to be held in New Delhi on Friday.
The company is expected to announce over 25 per cent higher net profit for the fiscal under review on over five per cent sales growth, sources said on Thursday.
When contacted, group director corporate affairs at Dabur India P D Narang confirmed that the board will consider the scheme of demerger of the two businesses and if approved, the company would be filing the demerger proposal with the High Court on Monday next.
However, he declined to comment on the dividend figures expected to be announced at the meeting.
In January this year, Dabur India had announced plans to demerge the Rs 163 crore (Rs 1.63 billion) pharma business from the FMCG one so that each business can be provided better focus.
Post demerger, Dabur India would largely comprise the FMCG business including personal care, healthcare and ayurvedic specialities.
The pharmaceutical business would comprise allopathic and oncology formulations besides bulk drugs. Dabur Oncology, a subsidiary of Dabur India, would also be a part of the pharma business.
The new pharma company is expected to get listed on the country's stock exchanges after getting necessary regulatory approvals.
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