Nestle Dividend 2023: Shares of Nestle India traded ex-dividend on Friday with respect to the Rs 27 dividend announced earlier.
The Maggi instant noodles maker announced an interim dividend of Rs 27 per equity share with a face value of Rs 10, i.e., a 270 per cent dividend and a final dividend of Rs 75 per equity share, i.e., 750 per cent for the financial year ended 31st December 2022.
Nestle India’s regulator filing read, “Confirmed payment of two interim Dividends aggregating to 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 31st December 2022."
The FMCG major has fixed April 21 as the record date for determining the eligibility of shareholders. The same 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 or from May 8 along with the final dividend for 2022 after members of the company approve the same at the annual general meeting scheduled to be held on April 12.
Companies usually trade ex-dividend on the day of record date or a day before. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.
Nestle India share price history
Shares of Nestle India have gained nearly 12 per cent in the last year, a period in which Nifty 50 has risen 1.3 per cent.
Nestle is slated to announce its results for the January-March quarter on April 25. Axis Securities expects Nestle India to post revenue growth at 13% year-on-year (YoY), led by price hikes and rural-led distribution expansion. Meanwhile, EBITDA margin is seen contracting 36bps on account of higher ad spends.
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