Nestle India announces an interim dividend at Rs 27 per share, sets record date

FMCG major Nestle India announced an interim dividend of Rs 27 per equity share of Rs 10 each for the year 2023 on the entire issue. The organization selected 21 April as the record date to determine 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 Rs 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 the 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 a 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 Rs 210.00 per share.

At the current share price of Rs 19525.55, this results in a dividend yield of 1.08 percent. The stock was trading 0.89 percent lower at Rs19,500.00 apiece on NSE. The script has gained 6.56 percent in the last one-month period.