 "Strides Arcolab turns ex-dividend today; stock down 16%")
Shares of drug maker Strides Arcolab have plunged 16% to Rs 667 on BSE after the stock turned ex-dividend for Rs 105 per share today.
The board of directors of the pharmaceutical firm at its meeting held on October 7, 2014, had declared a special dividend of Rs 105 per equity share of Rs 10 each. The said special dividend will be paid on or after October 22, 2014, Strides Arcolab said in a regulatory filing.
The company fixed October 17, 2014 as record date for determining the eligibility of shareholders for payment of special dividend, it added.
The stock opened at Rs 687 and touched a low of Rs 654 on BSE. A combined around 484,000 shares changed hands on the counter so far on BSE and NSE.
The board of directors of the pharmaceutical firm at its meeting held on October 7, 2014, had declared a special dividend of Rs 105 per equity share of Rs 10 each. The said special dividend will be paid on or after October 22, 2014, Strides Arcolab said in a regulatory filing.
The company fixed October 17, 2014 as record date for determining the eligibility of shareholders for payment of special dividend, it added.
The stock opened at Rs 687 and touched a low of Rs 654 on BSE. A combined around 484,000 shares changed hands on the counter so far on BSE and NSE.