“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.
The interim dividend for 2023 will be paid on or from May 8 along with the final dividend for 2022 after members of the company approve the same at the annual general meeting.
Nestle has a dividend yield of 1.11% and paid an equity dividend of Rs 210 per equity share in the last 12 months.
On Tuesday, Nestle India shares were trading 0.13% higher at 18,916.30 on NSE. So far this year, the stock is down 3.30%.
Nestle will announce its first-quarter results on April 25.
“The unaudited financial results of the company for the first quarter ending March 31, 2023, will be considered by the Board of Directors of the Company at their meeting proposed to be held on 25 April 2023,” it said.
For the December quarter, Nestle India posted a 66% year-on-year (YoY) rise in net profit at Rs 628 crore, while sales rose 14% year-on-year to Rs 4,233 crore. The company has reported an EBITDA of Rs 973 crore for the fourth quarter ended December 2022, higher by 14% YoY.
According to Trendlyne data, Nestle India has an average target price of Rs 19,684, showing an upside of 4.01% from the current levels.
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