HUL Dividend: Board recommends final dividend of ₹24/share for FY24; details here

HUL Q4 Results: Hindustan Unilever Ltd (HUL) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Wednesday, April 24, while its board recommended a final dividend for FY24 while releasing the quarterly numbers. The board of the fast-moving consumer goods (FMCG) major recommended a final dividend of ₹24 per equity share of Re 1 each for FY24.

‘’Board recommended a final dividend of Rs. 24/- for the financial year ended 31st March, 2024 on Equity Shares of Re. 1/- each. The Company had earlier paid an interim dividend of Rs. 18/- per share on 16th November, 2023. The total dividend for the said period amounts to Rs. 42/- per Equity Share of face value of Re. 1/- each,'' said HUL in its regulatory filing to the stock exchanges.

Also Read: HUL Q4 results: Net profit declines 6%, revenue marginally up; Here are 4 key highlights

HUL Dividend History

HUL had earlier paid an interim dividend of ₹18 per equity share on November 16, 2023. The total dividend for fiscal 2023-24 (FY24) amounts to ₹42 per equity share of face value of Re 1 each, according to HUL's exchange filing.

HUL Q4 Results

The FMCG major posted a six per cent decline in its standalone net profit to ₹2,406 crore from ₹2,552 crore last year same period. The earnings of the FMCG company are below the market expectations. Analysts forecasted a profit of ₹2,435 crore on revenue totaling ₹14,913 crore. 

During the fourth quarter, the company witnessed a slight increase in revenue from operations to ₹14,693 crore, as opposed to ₹14,638 crore recorded in the same period last year. On the other hand, EBITDA margin remained healthy at 23.8 per cent with an increase of 40 bps YoY. Profit after tax (PAT) and EPS was up four per cent and two per cent respectively.

“In FY24 we delivered a resilient performance and crossed ₹10,000 crore net profit mark. We remain focused on driving operational excellence and have continued to build back our gross margins whilst stepping up investment in brands and long-term capabilities. I am optimistic of consumer demand gradually improving due to a normal monsoon and better macro-economic indicators," said Rohit Jawa, CEO and Managing Director, HUL.