Nestle India announces dividend of Rs 8.50 per share. Check record date

Maggi-maker Nestle India on Thursday announced a dividend of Rs 8.50 per share while releasing its March quarter financial numbers. The MNC FMCG firm has fixed July 15 as the record date for determining shareholder eligibility while the payment would be done on August 2.

“The Board of Directors have recommended a final dividend for the fifteen months financial year ended 31 March 2024 of Rs 8.50 per equity share (face value of Re 1/- each) amounting to Rs 8,195.3 million,” Nestle India said in a filing.

Nestle has decided to shift its earnings calendar from calendar year cycles to financial year cycles and is therefore considering March quarter as the fifth one of FY24.

Besides the final dividend, the total dividend for FY25 includes first interim dividend of Rs 27 per equity share, second interim dividend of Rs 140 and third interim dividend of Rs 7 paid on 8 May 2023, 16 November 2023 and 5 March 2024, respectively.

Nestle India has reported a net profit of Rs 934 crore for the March ended quarter versus an ET Now poll of Rs 847 crore. It is higher by 27% on a year-on-year (YoY) basis versus Rs 736.64 crore reported in the year-ago period. Read full results statement here

The revenue from operations for the January-March quarter stood at Rs 5,267.59 crore which was 9% higher from Rs 4,830.53 crore reported by the company in the year-ago period.

Nestle India was trading 0.36% up at Rs 2,512 on BSE as of 12:50 pm.

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