Last Update: April 21, 2023, 12:47 PM IST
Nestle India declares first interim dividend for 2023
Nestle Dividend: Nestle India shares traded ex-dividend in respect of the Rs 27 dividend declared on Friday
Nestle Dividend 2023: Shares of Nestle India on Friday traded flat ex-dividend with respect to the dividend declared earlier at Rs 27.
The maker of Maggi instant noodles declared an interim dividend of Rs 27 per equity share with face value of Rs 10 ie 270 per cent and a final dividend of Rs 75 per equity share ie 750 per cent for the financial year. Expires on 31 December 2022.
Nestle India’s regulator filing read, “Reaffirmed the payment of two interim dividends totaling Rs 145 per equity share for the financial year 2022 and declared a final dividend of Rs 75 per equity share for the financial year ended 31 December 2022.” Did.”
The FMCG major has fixed April 21 as the record date for determining the eligibility of shareholders. This date is also the record date for the final dividend of Rs 75 for the year 2022.
The interim dividend for 2023 will be paid on May 8 or along with the final dividend for 2022 when the members of the company approve the same in the Annual General Meeting to be held on April 12.
Companies typically trade ex-dividends on the day of the record date or the day before. When a company pays an ex-dividend on a particular date, its stock is not worth the next dividend payment.
nestle india share price history
Nestle India shares have gained nearly 12 per cent in the past year, a period in which smelly 50 has climbed 1.3 percent.
Nestle is set to announce its results for the January-March quarter on April 25. Axis Securities expects Nestle India to post 13% year-on-year (YoY) revenue growth, led by price increases and rural-led distribution expansion. Meanwhile, EBITDA margin is witnessing a contraction of 36bps due to higher advertising spend.
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