A new financial year has just begun and there is already some exciting news for Nestle investors. It has been confirmed that investors of Nestle are set to get a dividend of 27 rupees per share. Nestle India made this announcement on Wednesday, that is, the 12th of April 2023.
An interim dividend of rupees 27 per share will be distributed to the investors on the entire issued, subscribed, and paid-up share capital of the company which consists of 9,64, 15,716 shares that have a nominal value of rupees 10 each.
According to a recent filing with the exchange, the interim dividend for the year 2023 will be paid from May 8, 2023.
Additionally, if approved by the members at the 64th Annual General Meeting scheduled to be held on April 12, 2023, investors may also receive the final dividend for the year 2022.
The eligibility date has been set for April 21st, 2023 by the FMCG company. To be recorded for dividends the people will have to be holding the company shares on this date. When the announcement was made the company’s share price was down by 0.89% at 19,500 rupees per share.
Since May 2001 Nestle has declared almost 70 dividends as per Trendlyne. And in the last 12 months, the dividend declared by the company equals rupees 210 per share.
And now investors of Nestle are set to get a dividend of 27 rupees per share. Keep in mind the current share price of the stock the dividend yield of the company comes to 1.08%.
The performance of the stock has been so well in the previous year that as opposed to 5.4% growth in the Nifty50 benchmark the company has given 5.9% returns in the same period.
Nestle hit its 52-week high price on October 22, 2022, and is trading just below it now. The company has seen less price volatility in the past 1 year and as per Trendlyne, they have traded at a beta of 0.61.
The latest quarter details of Nestle are art to come out on April 25th. They have been put in the top spot for positive play under the FMCG list by Axis Securities.
They assume that the company will post a 13% Y-o-Y revenue growth which will be encouraged by price hikes as well as rural-led distribution expansion. However, EBITDA is expected to contract to 36bps due to high spending on ads.