Aster DM Healthcare declares special dividend of ₹118/share, stock near 52-week high-mark; check details

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₹118 per equity share after the conclusion of its meeting earlier today. The hospitality chain said in a regulatory filing to the stock exchanges that the dividend will be payable to those shareholders whose names stand on the register of members of the company as on April 23- the record date set for the dividend. The dividend will be paid within 30 days.

Also Read: Aster DM Healthcare GCC business stake sale unlocks value, say analysts; shares rally 11% The company's board has decided not to declare an interim dividend for the financial year 2023-24 (FY24). However, it may consider declaration of final dividend at the board meeting considering the approval of audited financial statements for FY24, said Aster DM Healthcare in its exchange filing. Aster DM highlighted that the dividend is attributed to the proceeds from the sale of the GCC business and the redemption of redeemable preference shares issued to the company by Affinity Holdings Pvt Ltd, a wholly-owned material subsidiary of Aster DM Healthcare, on 49,95,13,060 equity shares of ₹10 each.

Ahead of the announcement of the special dividend, shares of Aster DM Healthcare settled 2.66 per cent higher at ₹487.95 apiece on the BSE. The hospitality stock is near ots 52-week high-mark of ₹500.60 apiece on the BSE. According to Trendlyne data, Aster DM Healthcare has given better returns compared to Nifty 50 and Sensex in the last one year.

In the past one month, the company gave 15.99 per cent returns, against 0.82 per cent and 0.78 per cent returns by Nifty 50 and Sensex respectively. In the last one year, Aster DM Healthcare has given 97.69 per cent returns to investors as against 26.43 per cent and 22.94 per cent returns by Nifty 50 and Sensex respectively. Mileston