FMCG giant Nestle India to consider dividend, scrip trading at a dividend yield of 1.11%

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Nestlé India is a large-cap company and a giant in the FMCG industry, with a market value of 182,138 Cr. The largest and leading corporation in the world is Nestlé. Now, the company employs over 275,000 people, has over 2,000 brands, and operates in 188 different countries.

“This is to inform you that declaration of an interim dividend for the year 2023, if any, shall be considered by the Board of Directors of the Company at their meeting proposed to be held on Wednesday, 12th April 2023. Please note that the Record Date of April 21, 2023, which was set for the final dividend for the year 2022 and told to you in our letter PKR:GA:10:23 on February 16, 2023, will also be used to figure out if members are eligible for an interim dividend for the year 2023, which may be announced by the Board of Directors on April 12, 2023. This letter comes with a note about the Record Date. If the members agree at the 64th Annual General Meeting, which will be held on April 12, 2023, the interim dividend for the year 2023 will be paid on May 8, 2023, along with the final dividend for the year 2022. In response to our letter PKR:GA:54:22 from December 22, 2022, the Company’s unaudited financial results for the first quarter ending March 31, 2023 will be discussed by the Board of Directors at a meeting planned for April 25, 2023. In light of these events and as stated in our letter PKR:GA 54:22 from December 22, 2022, the Trading Window for the Company’s equity shares will be closed from April 1 to April 27, 2023 (both days included),” Nestle India said in a filing to the stock exchange today.

Nestle India has said that each share with a face value of 10, or 100, will get a dividend of 1000%, or 100, for the quarter ending in December 2022, or Q3FY23. At the share price of 18,863.90, this gives a dividend yield of 0.53%. In the past five years, the company has done a good job of paying dividends. Trendlyne says that since May 31, 2001, Nestle India Ltd. has paid out 66 dividends. Nestle India Ltd. said that it would pay a dividend of Rs. 210 per share for the past 12 months. At the share price right now, this gives a dividend yield of 1.11 percent.

A R Ramachandran, Co-founder and Trainer at Tips2trades, talked about the stock’s technical outlook. He said, “Nestle has strong resistance at 19200 on the Daily charts. A close below support of 18700 could lead to targets of 18300-18050 in the near term.”

The shares of Nestle India ended the day on the NSE at 18,863.90 each, which is 0.47 percent less than where they ended the day before, at 18,953.10. On (24-Oct-2022), the stock hit a 52-week high of 21,050.00 and a 52-week low of 16,000.00. (19-May-2022).

Source: Team CurrencyVeda