FMCG stock declares ₹18 per share interim dividend, record date next week
2 min read . Updated: 25 Oct 2022, 01:17 PM IST
Premium- The board has fixed the record date for the interim dividend which is next week on November 1, 2022
While announcing its second quarter earnings for the current fiscal or Q2 FY23, Colgate Palmolive (India) Ltd said that its board of directors also declared a first interim dividend of ₹18 per share of Re 1 each (face value) for the financial year 2022-23 and has also fixed the record date for the same which is next week on Tuesday, November 1, 2022.
“We would like to inform you that the Board of Directors at their meeting held today i.e. October 20, 2022, has, inter alia declared a First Interim Dividend of Rs. 18/- (Rupees Eighteen Only) per equity share of Re.1/- (face value) for the financial year 2022-23," the company informed in the exchange filing. "The dividend payout to the shareholders will be ₹489.6 crore," it added.
Further, it said that the the said interim dividend will be paid on and from November 16, 2022 to those shareholders whose names appear in the Register of Members of the company as on the record date i.e. November 1, 2022.
As per data by Trendlyne, Colgate-Palmolive (India) Ltd. has declared an equity dividend amounting to ₹40 per share in the past 12 months. At the current share price, this results in a dividend yield of 2.48%.
FMCG major Colgate-Palmolive India reported a 3% rise in net profit at ₹278.02 crore for the second quarter ended on September 30, 2022, helped by improved sales momentum, as compared to ₹269 crore in the July-September period a year ago. Its revenue from operations rose 2.5% to ₹1,378 crore as against ₹1,343.9 crore year-on-year (YoY).
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The company's managing director Prabha Narasimhan said: "The current quarter has seen improved momentum versus prior quarters driven by the focused deployment of initiatives during the festive season. We continue to remain cautiously optimistic on the overall growth trend, especially in rural, and are encouraged by the growth of modern trade and e-commerce businesses in the current quarter," she added. While the macroeconomic environment stabilises, CPIL's endeavour will be to deliver sustainable gross margins and continue to invest in core, while driving premiumisation and category expansion into personal care."
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