Nestle India declares interim dividend at ₹27 per share, fixes record date

FMCG major Nestle India on Wednesday declared an interim dividend of ₹27 per equity share of ₹10 each for the year 2023 on the entire issue. The company has fixed 21 April as the record date for determining the eligibility of shareholders for interim dividend payment.

"This is to inform you that the Board of Directors at their meeting held today declared an Interim Dividend of ₹27/- (Rupees Twenty-Seven Only) per equity share of ₹10/- each for the year 2023 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," the company said in a filing.

The interim dividend will be paid to the shareholders on and from 8 May, 2023, along with the final dividend for the year 2022.

“Interim dividend for financial year 2023 will be paid on and from 8 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 12 April, 2023, to those members whose names appear in the Register of Members of the Company and as beneficial owner in the records of the depository, as on the record date fixed for the aforesaid purpose i.e. 21 April, 2023,” the statement read.

Nestle India has declared 66 dividends since 31 May, 2001.

In the past 12 months, Nestle has declared an equity dividend amounting to ₹210.00 per share.

At the current share price of ₹19525.55, this results in a dividend yield of 1.08 per cent.

On Wednesday, the stock was trading 0.89 per cent lower at ₹19,500.00 apiece on NSE. The script has gained 6.56 per cent in the last one-month period.