Ranbaxy declares 1:1 bonus, pays 100% dividend

NEW DELHI, June 9: Ranbaxy Laboratories on Tuesday announced a 1:1 bonus issue and a dividend of Rs 10 per share (100 per cent) for the year ended March 1998 on improved net profit and turnover. Net profit rose to Rs 186.70 crore during the year against Rs 160.40 crore in 1996-97, an increase of 16.4 per cent. Turnover was up at Rs 1333.50 crore in 1997-98, an increase of 16.1 per cent over Rs 1148.20 crore in 1996-97.

The Ranbaxy scrip spurted by Rs 30 on Tuesday to Rs 619.50 from Monday’s closing price of Rs 589.50.

The board of directors has recommended a final dividend of Rs 7.75 per share (payout Rs 53.10 crore), taking the total dividend for 1997-98 to Rs 10 per share. The company had announced an interim dividend of Rs 2.25 per share earlier during the year. The payout ratio has also increased to 28.4 per cent in the last financial, as against 23.6 per cent in 1996-97.

Earnings per share for the year, based on the increased equity share capital of Rs 53.70 crore at the end of the year, stood atRs 34.74 (Rs 32.47).