Nestle Dividend FY25: Stock surges over 2% on ₹2.75 interim dividend announcement

Shares of FMCG giant Nestle India rose nearly 2 per cent in Monday morning trading on July 8, following the company's announcement of an interim dividend of ₹2.75 per share for the 2024-25 financial year.

Nestle India shares rose by nearly 1.79 per cent, reaching a high of ₹2,620 per share on the BSE in morning trading, even as broader markets declined.

In an exchange filing, the company announced that its board has approved an interim dividend of ₹2.75 per share with a face value of ₹1 each for the financial year 2024-25.

The record date for the interim dividend is set for July 16, 2024.

The interim dividend for FY25 will be paid on and from August 6, 2024, along with the final dividend for the fifteen-month period ending March 31, 2024, as stated in the filing.

The dividend payment is contingent on shareholder approval at the 65th annual general meeting scheduled for July 8.

Nestle India recently announced a final dividend of ₹8.50 per share for the financial year ending March 31, 2024, with a record date of July 16, 2024.

This final dividend is in addition to the interim dividend of ₹7 per share declared in February 2024, which had a record date of February 15, 2024.

Nestle India's board will meet on July 25 to review and approve the financial results for the April-June quarter of 2024-25.

For the March quarter of FY 2023-24, the FMCG major reported a 27 per cent increase in net profit, reaching ₹934 crore compared to ₹737 crore in the same period the previous year.

Revenue from operations grew by 9%, amounting to ₹5,268 crore in the January-March quarter of FY24, up from ₹4,830 crore in the year-ago period.

Nestle India stock closed 1.14 per cent higher at ₹2,603 per share on Monday, against previous close at ₹2,573 on Friday last week.