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Business News/ Markets / Stock Markets/  FMCG giant Nestle India to consider dividend, scrip trading at a dividend yield of 1.11%
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FMCG giant Nestle India to consider dividend, scrip trading at a dividend yield of 1.11%

With a market valuation of ₹182,138 Cr, Nestle India is a large-cap corporation and a titan in the FMCG industry.

The largest and leading corporation in the world is Nestle.Premium
The largest and leading corporation in the world is Nestle.

With a market valuation of 182,138 Cr, Nestlé India is a large-cap corporation and a titan in the FMCG industry. The largest and leading corporation in the world is Nestlé. Now, the company employs over 275,000 people, has over 2,000 brands, and operates in 188 different countries.

“This is to inform you that declaration of an interim dividend for the year 2023, if any, shall be considered by the Board of Directors of the Company at their meeting proposed to be held on Wednesday, 12th April 2023. Please note that the Record Date of 21st April 2023 fixed for the purpose of final dividend for the year 2022, as intimated vide our letter PKR:GA:10:23 dated 16th February 2023, shall also determine the entitlement of the members to an interim dividend for the year 2023 that may be declared by the Board of Directors on 12th April 2023. Intimation of the Record Date in this regard is enclosed with this letter. Interim dividend for the year 2023, in case declared, shall be paid on and from 8th May 2023 along with the final dividend for the year 2022, if approved by the members at the 64th Annual General Meeting scheduled to be held on 12th April 2023. Further to our letter PKR:GA: 54:22 dated 22nd December 2022, the un-audited financial results of the Company for the first quarter ending 31st March 2023 shall be considered by the Board of Directors of the Company at their meeting proposed to be held on Tuesday, 25th April 2023. In view of the above events and vide our above mentioned letter PKR:GA 54:22 dated 22nd December 2022, the Trading Window in respect of the equity shares of the Company shall be closed from 1st April 2023 to 27th April 2023 (both days inclusive)," said Nestle India in a stock exchange filing today.

Nestle India has announced an equity dividend of 1000.00% at a face value of 10 or 100 per share for the quarter ending December 2022 or Q3FY23. This generates a dividend yield at the current share price of 18,863.90 of 0.53%. The company has a solid track record of dividend declarations during the past five years. Nestle India Ltd. has issued 66 dividends since May 31, 2001, according to data from Trendlyne. Nestle India Ltd. announced an equity dividend in the amount of Rs. 210 per share over the previous 12 months. This generates a dividend yield of 1.11% at the current share price.

Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Nestle has strong resistance at 19200 on the Daily charts. A close below support of 18700 could lead to targets of 18300-18050 in the near term."

The shares of Nestle India closed today on the NSE at 18,863.90 apiece level, down by 0.47% from the previous close of 18,953.10. The stock touched a 52-week-high of 21,050.00 on (24-Oct-2022) and a 52-week-low of 16,000.00 on (19-May-2022).

 

 

 

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 27 Mar 2023, 08:20 PM IST
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