Last Updated: April 21, 2023, 12:13 IST
Nestle India has declared a primary interim dividend for 2023
Nestle Dividend: Shares of Nestle India traded ex-dividend on Friday with respect to the Rs 27 dividend introduced
Nestle Dividend 2023: Shares of Nestle India traded ex-dividend on Friday with respect to the Rs 27 dividend introduced earlier.
The Maggi prompt noodles maker introduced an interim dividend of Rs 27 per fairness share with a face worth of Rs 10, i.e., a 270 per cent dividend and a last dividend of Rs 75 per fairness share, i.e., 750 per cent for the monetary yr ended thirty first December 2022.
Nestle India’s regulator submitting learn, “Confirmed cost of two interim Dividends aggregating to Rs.145/- per fairness share for the monetary yr 2022 and declared a last dividend of Rs 75 per fairness share for the monetary yr ended thirty first December 2022.”
The FMCG major has fixed April 21 as the record date for determining the eligibility of shareholders. The same date is also the record date for the final dividend of RS 75 for the year 2022.
The interim dividend for 2023 will be paid on or from May 8 along with the final dividend for 2022 after members of the company approve the same at the annual general meeting scheduled to be held on April 12.
Companies usually trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
Nestle India share price history
Shares of Nestle India have gained nearly 12 per cent in the last year, a period in which Nifty 50 has risen 1.3 per cent.
Nestle is slated to announce its results for the January-March quarter on April 25. Axis Securities expects Nestle India to post revenue growth at 13% year-on-year (YoY), led by price hikes and rural-led distribution expansion. Meanwhile, EBITDA margin is seen contracting 36bps on account of higher ad spends.
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