Maggi maker Nestle India is going to give a big gift to its investors. Nestle India is going to give an interim dividend of Rs 120 per share to its investors. "The Board of Directors of the company in its meeting held on Wednesday has declared a second interim dividend of Rs 120 per share of Rs 10 face value for the year 2022," Nestle India said in an exchange filing.
1st November 2022 will be the record date of the dividend
Nestle India has said that the second interim dividend of Rs 120 for the year 2022 will be paid on or after November 16, 2022. The FMCG company has fixed the record date of the dividend as 1 November 2022. That is, the company's shares will trade at ex-dividend on 31 October 2022. Nestle had earlier given a dividend of Rs 25 per share on 6 May 2022. For the year ended December 2021, Nestle India had given a total dividend of 2000 per cent, or Rs 200, on each share.
Company's quarterly profit of Rs 668.3 crore
Nestle India made a profit of Rs 668.34 crore in the September 2022 quarter. The company's profit has increased by 8.25%. Nestle India's net sales grew 18% year-on-year to Rs 4567 crore in the September quarter. The domestic sales of Maggi noodles and Kit Kat chocolate makers grew 18.3% on a year-on-year basis. Shares of Nestle India are trading at a level of Rs 19723.25 with a gain of about 2 percent on October 19. Shares of Nestle India have gained almost 10% in the last 6 months. At the same time, Nestle's shares have climbed about 175% in the last five years.