Cipla shareholders approve 100% final dividend

NEW DELHI: Drug firm Cipla on Friday said its shareholders have approved final dividend of 100 per cent on 80.29 crore equity shares of Rs 2 each for the financial year ended March 31, 2011.

The company's shareholders have approved a final dividend at the rate of 100 per cent on 80,29,21,357 equity shares of Rs 2 each for the financial year ended March 31, 2011, at the company's 75th annual general meeting (AGM), Cipla said in a filing to the Bombay Stock Exchange (BSE).

The shareholders have also confirmed interim dividend paid at the rate of 40 per cent on 80,29,21,357 shares of Rs 2 each for the financial year ended March 31, 2011.

During the AGM, the company's shareholders also approved the appointment of S Radhakrishnan as director of the company and re-appointment of M R Raghavan and Pankaj Patel as the directors of the company, Cipla said.

The company, yesterday, said that it expected revenues to grow over six times to Rs 15,000-20,000 crore by 2020 and had assured shareholders that the promoters have no plan to divest their stake in the company.

The company has achieved net revenue of Rs 6,135 crore in 2010-11 with international business continuing to be a major revenue driver.

Shares of Cipla today closed at Rs 276.90 on BSE, down 1.30 per cent from its previous close.