Dr. Reddy’s Laboratories Ltd (RDY) To Go Ex-Dividend on July 13th

Dr. Reddy’s Laboratories Ltd (NYSE:RDY) announced a dividend on Tuesday, June 6th, NASDAQ reports. Shareholders of record on Monday, July 17th will be given a dividend of 0.29 per share on Monday, July 17th. The ex-dividend date of this dividend is Thursday, July 13th.

Dr. Reddy’s Laboratories has increased its dividend by an average of 7.4% per year over the last three years. Dr. Reddy’s Laboratories has a dividend payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dr. Reddy’s Laboratories to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.29 annual dividend with an expected future payout ratio of 13.3%.

Shares of Dr. Reddy’s Laboratories (RDY) opened at 41.52 on Wednesday. The firm has a 50-day moving average of $40.51 and a 200 day moving average of $42.25. The company has a market capitalization of $6.88 billion, a P/E ratio of 37.34 and a beta of 0.35. Dr. Reddy’s Laboratories has a 1-year low of $37.03 and a 1-year high of $54.73.

Separately, Deutsche Bank AG raised shares of Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $51.45.

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Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).

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