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Business News/ Markets / Stock Markets/  FMCG stock declares 120 second interim dividend. Check record date

FMCG stock declares ₹120 second interim dividend. Check record date

While announcing its results, Nestle India said that its board has also recommended a second interim dividend of ₹120

Photo: Reuters Premium
Photo: Reuters 

While announcing its third quarter earnings, Nestle India said that its board has also recommended a second interim dividend of 120 per share and also fixed the record date for the same. Shares of Nestle India rose more than a per cent to 19,611 apiece on the BSE in Wednesday's early deals.

“The board of directors, at their meeting held today, declared Second Interim Dividend of Rs. 120/- (Rupees One Hundred Twenty Only) per equity share of Rs. 10/- each for the year 2022 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 announced in an exchange filing today.

The company further added that the second interim dividend for the year 2022 will be paid on and from 16th November 2022 to those Members whose names appear in the Register of Members of the Company and as beneficial owners in the Depositories, as on the Record Date fixed for the purpose i.e., 1st November 2022.

Nestle India reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas. The Maggi noodles maker's profit rose 8.3% to 668 crore in the quarter ended September 30, 2022 as compared to 617 crore year-on-year (YoY).

Meanwhile, its revenue from operations climbed 18.3% to 4,591 crore as sales of its chocolates, Maggi noodles as well as Sunrise and Nescafe brands of coffee rose, helped by robust advertising spend, from 3,882 crore a year ago.

Its Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose nearly 7% to 1,016 crore as compared to 962 crore (YoY) while EBITDA margin declined 250 bps to 22% from 22.4% due to raw material price inflation.

"Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes, including rural markets," Nestle India Managing Director Suresh Narayanan said in a statement. "We are witnessing early signs of stability in prices of a few commodities such as edible oils and packaging materials," Nestle said in its statement.

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Published: 19 Oct 2022, 11:28 AM IST
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