Nestle hits 52-week high on strong Dec quarter result, dividend bounty

The final dividend, if approved by the shareholders at 61s1 AGM, shall be paid on and from May 28, 2020

Shares of Nestle India advanced 2 per cent to hit fresh 52-week high of Rs 16,753.45 on the BSE on Friday after the packaged food firm staged an impressive December quarter show. That apart, the company also recommended a final dividend of Rs 61 per equity share for the year 2019.

The company's net profit rose 38.4 per cent year-on-year (YoY) to Rs 473.02 crore during the recently concluded quarter, helped by volume growth. The company, which follows January-December financial year, had posted a net profit of Rs 341.76 crore in the corresponding quarter a year ago. Nestle India’s margins for