Shares of Torrent Pharma were almost flat at Rs 1,417 per share in BSE trading on Friday afternoon, with the shares trading ex-dividend ahead of its dividend issue record date.

Along with its Q4FY22 results, Torrent Pharma said that its board of directors had recommended a 1:1 bonus share held on the established record date. Torrent Pharma’s board of directors has set a date for the dividend issue next week, Monday, July 11, 2022.

The company stated that once the bonus shares have been distributed, they will have the same rights as existing equity shares and have the right to participate fully in any dividends and other corporate actions proposed and declared after the bonus shares issue and distribution.

As a result of the bonus issue, the total paid-up share capital will increase from the current Rs 84.62 crore to Rs 169.22 crore, Torrent Pharma said.

In addition to its earnings, the board recommended to members a final dividend of Rs 23 per share (460%) of Rs 5 per share, including a special dividend of Rs 15 per share, the pharmaceutical company filed in an exchange notice.

It added that if shareholders declare the final dividend amount, it is proposed to be paid/distributed on or around August 4, 2022.

Torrent Pharma posted a consolidated loss of Rs 118 crore in the fourth quarter ended March 2022 due to impairment charges of Rs 425 crore related to the discontinuation of the US liquids business. The company reported a net profit of Rs 324 crore for the January-March 2020-21 period.

In May, Torrent Pharmaceuticals signed an agreement to acquire four brands, namely Styptovit-E, Finast, Finast-T and Dynapress, from Dr Reddy Laboratories. Under the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of the brands in India.