FMCG giant Nestle India on Wednesday announced an interim dividend of Rs 27 per equity share for the year 2023 on the entire issued, subscribed and paid-up share capital of the company of 9,64,15,716 equity shares of the nominal value of Rs 10 each.
“This is to inform you that the Board of Directors at their meeting held today declared an interim dividend of Rs 27 per equity share of Rs 10 each for the year 2023 on the entire issued, subscribed and paid-up share capital of the Company of 9,64,15,716 equity shares of the nominal value of Rs 10 each,” Nestle India said in a stock exchange filing.
Nestle India has declared 66 dividends since May 31, 2001, according to data available on Trendlyne.
Nestle India Dividend Record Date
The FMCG major has fixed April 21, 2023, as the record date to determine the eligibility of shareholders for the payment of said interim dividend.
This is Nestle’s first interim dividend for the year 2023, and will be paid on and from 8 May, along with the final dividend for the year 2022. Earlier, for the year 2022, Nestle issued a total dividend of Rs 220 per share. These will be paid to those “members whose names appear in the Register of Members of the Company and as beneficial owner in the records of the depository, as on the Record Date fixed for the aforesaid purpose, i.e., 21st April 2023”. Shares of Nestle India last traded at Rs 19,671.90 each, up 0.70 per cent or Rs 136.50 on BSE on Tuesday, 11 April.
Stock Price History
The stock has traded in line with Nifty50 in the last one year as it has given 5.9% returns vs a 5.4% rise seen in the benchmark index during the period. Nestle shares are currently trading below its 52-week high of Rs 21,050, which the counter hit on October 22, 2022. The stock has exhibited relatively lower volatility in the past 12 months and traded at a beta of 0.61, according to Trendlyne.
Nestle, earlier in March, had released its Annual Report 2022 wherein it had said that its India business growth has been driven by getting the pricing right for 1,2,4 finger bars chocolates, and expanding product distribution to small shops in the nook and corner of the country. It also maintained that its ‘popular and affordable’ Munch chocolate has continued to attract new consumers through affordable ‘price point management’ and an interactive digital campaign with the IPL. The report mentioned Nestle’s Kitkat chocolate as well, saying that it is continuously attracting new consumers by appealing to local needs and tastes. The company also talked about its R&D centres in India, China, Africa, and SouthEast Asia markets, which gives its agility to innovate close to the consumers.
Read all the Latest Business News here
Comments
0 comment