FMCG giant HUL announces interim dividend of ₹17 per share, fixes record date | Mint
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Business News/ Markets / Stock Markets/  FMCG giant HUL announces interim dividend of 17 per share, fixes record date
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FMCG giant HUL announces interim dividend of ₹17 per share, fixes record date

HUL has also presented its second quarter results for FY23, under which, the company delivered a strong performance in the quarter with turnover growth of 16% and underlying volume growth of 4%.

HUL is among dividend kings who have given hefty dividends to their shareholders in the past 5 years. (REUTERS)Premium
HUL is among dividend kings who have given hefty dividends to their shareholders in the past 5 years. (REUTERS)

FMCG giant Hindustan Unilever (HUL) announced an interim dividend of 17 per equity share for the financial year ending March 31, 2023. HUL is among dividend kings who have given hefty dividends to their shareholders in the past 5 years. HUL has also presented its second quarter results for FY23, under which, the company delivered a strong performance in the quarter with turnover growth of 16% and underlying volume growth of 4%.

As per the regulatory filing, HUL declared an interim dividend of 17 per equity share having a face value of Re 1 each for the financial year ending March 31st, 2023.

The company also fixed November 2 as the record date for determining the entitlement of the shareholders for the interim dividend. While HUL plans to pay this dividend on or after November 17, 2022.

That being said, HUL will turn ex-dividend on November 1, as per BSE data.

Record and ex-dividend dates are important to be eligible for receiving dividends from the company.

On the record date, a listed company identifies the names of eligible shareholders for dividend benefits. All the shareholders whose name appears in the company's list by the end of the record date will be eligible to receive dividends.

However, a shareholder needs to ensure to make their investment one or two days before the record date in the stock which is going to give a dividend. Generally, it takes about one to two days for shares to get credited to your Demat account after the actual purchase day on stock exchanges.

HUL has a 'T+2' settlement type option, which means, any shares purchased of this company will take two working days to reflect in the shareholders' Demat account. HUL's record date is November 2 here.

Before the ex-dividend date, is cum-dividend date which is the last date to buy shares to be eligible to receive a dividend. This date is one day prior to the ex-dividend date and two days before the record date.

Then comes the ex-dividend date, which is the day the price of the equity shares of a company gets adjusted for the dividend payout. It is one working day before the record date.

In FY22 alone, HUL paid a dividend of a whopping 3,400% aggregating to 34 per equity share.

On BSE, HUL shares closed at 2,655.05 apiece up by 2.11% on Friday.

At the current market price, HUL has a dividend yield of 1.28%.

On a consolidated basis, HUL's cash and cash equivalents stood at 2,598 crore as of September 30, 2022, compared to 1,147 crore as of March 31, 2022.

In Q2FY23, HUL posted a standalone net profit of 2,616 crore rising by 19.6% from 2,187 crore. Revenue from operations grew by 15.9% to 14,751 crore as against 12,724 crore in the same quarter last year. EBITDA margin at 23.3% remained healthy despite the unprecedented inflation in input costs. YoY EBITDA margin declined 180 bps.

Consolidated net profit to owners stood at 2,665 crore up by 22.19% yoy and 11.93% qoq. Consolidated revenue climbed by 16.08% yoy and 3.78% qoq to 14,872 crore.

Sanjiv Mehta, CEO and Managing Director commented, "Demand environment remains challenging with inflation impacting consumption. However, with softening in some commodities and monetary/ fiscal measures taken by the government, we are cautiously optimistic in the near term. In this scenario, we will manage our business with agility, continue to grow our consumer franchise whilst maintaining our margins in a healthy range. We remain confident of the medium to long term potential of Indian FMCG sector and HUL’s ability to deliver a Consistent, Competitive, Profitable and Responsible growth.."

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Published: 21 Oct 2022, 06:12 PM IST
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