Glenmark Pharmaceuticals , a prominent player in the Indian pharmaceutical sector, has announced an interim dividend for its shareholders, setting key dates for eligibility and payment.

Dividend Details

The company's board has approved an interim dividend of Rs 2.50 per equity share. This dividend will be paid on shares with a face value of Rs 1 each. The total outlay for this dividend payout amounts to Rs 70.50 crore.

Important Dates for Shareholders

Investors should note that October 1 is the final day to purchase Glenmark Pharma shares to qualify for the interim dividend. This deadline is particularly important due to India's T+1 settlement cycle and the market holiday on October 2.

Dividend Payment Timeline

Glenmark Pharmaceuticals has stated that the dividend payment will be made within 30 days of the declaration date. This prompt payout schedule ensures that eligible shareholders will receive their dividends in a timely manner.

Investor Considerations

For investors looking to benefit from this dividend, it's crucial to complete share purchases by October 1. The company's decision to offer an interim dividend may be seen as a positive signal, potentially indicating strong financial performance or a commitment to shareholder returns.

Glenmark Pharmaceuticals' announcement of this interim dividend comes as part of its financial strategy. As always, investors are advised to consider their overall investment strategy and consult with financial advisors when making decisions based on dividend announcements.

Glenmark Pharmaceuticals , a leading pharmaceutical company, has announced significant corporate actions that are set to impact its shareholders and governance structure.

Interim Dividend Declaration

The Board of Directors of Glenmark Pharmaceuticals has approved an interim dividend of ₹2.50 per equity share. This dividend, based on a face value of ₹1 per equity share, amounts to a total payout of ₹705.50 million.

Shareholders should note the following key dates:

• Record Date: Friday, October 3
• Payment Timeline: Within 30 days from the declaration date

Board Committee Reconstitution

Effective October 1, Glenmark has announced a reshuffle in three of its key board committees:

1. Stakeholders Relationship Committee

• Chairman: Ms. Sona Saira Ramasastry
• Members: Mrs. Cherylann Pinto, Ms. Patricia Andrews

2. Risk Management Committee

• Chairman: Mr. Dipankar Bhattacharjee
• Members: Mr. Glenn Saldanha, Ms. Patricia Andrews, Mr. Anurag Mantri

3. ESG (Environmental, Social and Governance) Committee

• Chairman: Mr. Glenn Saldanha
• Members: Ms. Sona Saira Ramasastry, Ms. Patricia Andrews

These changes in committee structures reflect Glenmark's commitment to robust corporate governance and stakeholder engagement.

Board Meeting Details

The decisions were made during a Board of Directors meeting held on Friday, September 26. The meeting commenced at 10:00 a.m. IST and concluded at 10:21 a.m. IST.

These corporate actions demonstrate Glenmark Pharmaceuticals' focus on shareholder returns and organizational governance.