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Nestle India dividend 2023: FMCG giant to consider dividend pay on April 12

Nestle India said that the company's unaudited financial results for the first quarter ending March 31 would also be considered at the Board of Directors meeting

Nestle, Maggi, manufacturing, FMCG

Udisha Srivastav New Delhi

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FMCG giant Nestle India may soon announce an interim dividend for its shareholders. However, the declaration of interim dividend for the current financial year is subject to the approval of the company’s Board of Directors. Nestle India’s 64th Annual General Meeting is scheduled for next month on April 12.

The dividends will be credited to the shareholders’ bank accounts on May 8 if the company decides to pay.

According to the company, April 21 has been fixed as the record date for the dividend. It is the same as the final dividend for the year 2022. “The record date of April 21 fixed for the purpose of final dividend for the year 2022 shall also determine the entitlement of the members to an interim dividend for the year 2023 that may be declared by the Board of Directors on 12 April 2023,” the company said. Nestle India abides by a January-December financial year.

In its latest stock filing, Nestle India said that the company’s unaudited financial results for the first quarter ending March 31 would also be considered at the Board of Directors meeting. The data for this meeting is proposed as April 25. As a result, the company informed the exchanges the trading window would be shut for designated individuals and their immediate relatives from the duration of April 1 to April 27.

For the quarter ending December 2022, the FMCG major has announced an equity dividend of 1000 per cent at face value of Rs 10 or Rs 100 per share. Based on the data from the analytics website, Trendlyne, Nestle India has issued 66 dividends since 2001 in May. In the last 12 months, Nestle had a dividend yield of 1.11 per cent and declared an equity dividend of Rs 210 per share.

Meanwhile, Nomura, a global brokerage firm, lauded Nestle India for having a “sound strategy” for continuous growth. The firm sees an upside of more than 20 per cent on the Nestle India shares.

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First Published: Mar 29 2023 | 4:11 PM IST

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