Nestle has announced April 21 as the record date for determining the eligibility of shareholders for interim dividend payment.
Nestle India Ltd on Wednesday declared an interim dividend of Rs 27 per equity share of Rs 10 each for the calendar year 2023. Nestle has announced April 21 as the record date for determining the eligibility of shareholders for interim dividend payment. “This is to inform you that the Board of Directors at their meeting held today declared an interim dividend of Rs 27 per equity share of Rs 10 each for the year 2023 on the entire issued, subscribed and paid-up share capital of the Company of 9,64,15,716 equity shares of the nominal value of Rs 10 each,” Nestle India said in a stock exchange filing.
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This is Nestle’s first interim dividend for the year 2023, and will be paid on and from 8 May, along with the final dividend for the year 2022. Earlier, for the year 2022, Nestle issued a total dividend of Rs 220 per share. These will be paid to those “members whose names appear in the Register of Members of the Company and as beneficial owner in the records of the depository, as on the Record Date fixed for the aforesaid purpose, i.e., 21st April 2023”. Shares of Nestle India last traded at Rs 19,671.90 each, up 0.70 per cent or Rs 136.50 on BSE on Tuesday, 11 April.
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Nestle, earlier in March, had released its Annual Report 2022 wherein it had said that its India business growth has been driven by getting the pricing right for 1,2,4 finger bars chocolates, and expanding product distribution to small shops in the nook and corner of the country. It also maintained that its ‘popular and affordable’ Munch chocolate has continued to attract new consumers through affordable ‘price point management’ and an interactive digital campaign with the IPL. The report mentioned Nestle’s Kitkat chocolate as well, saying that it is continuously attracting new consumers by appealing to local needs and tastes. The company also talked about its R&D centres in India, China, Africa, and SouthEast Asia markets, which gives its agility to innovate close to the consumers.
