Stock: Nestle India, one of the largest FMCG companies in India, has announced interim dividends for its shareholders today. Shortly after the opening of the share market, Nestle India informed the exchanges about its decision. The company has announced an interim dividend of ₹10 per share on the face value for the business year 2023.
According to the information provided to the exchanges, the company also revealed the payment schedule for the dividend. Nestle India has declared an interim dividend of ₹27 per share on the face value of ₹10 per share. This means that investors who hold shares in the company will receive a dividend of ₹27 per share.
The company has also stated that there is still time for the payment of this interim dividend for the business year 2023, which will be paid on or after May 8th.
What is Record Date?
The company has announced that its 64th annual meeting will be held on April 12, 2023. After approval in this meeting, the company will pay the final dividend on May 8th or later. Nestle India had announced a dividend of ₹220 per share or 2200% in December 2022.
The board has fixed the record date for the dividend on April 21, 2023. This means that only those investors who have Nestle India’s stocks in their demat accounts until this day will benefit from this dividend.
Today, on Wednesday, there has been a drop of almost 1% in Nestle India’s share price on the NSE. With this decline, its price has started trading at around ₹27 per share. There has been a further decline in the share price since the announcement of the dividend. Until 10 am this morning, there was a drop of almost 1% in the share price, which was trading at ₹19,506 per share.