FMCG Stock declares interim dividend of ₹120 sec. check date of record

“The Board of Directors declared the second in its meeting held today” interim dividend 120/- (Rupees One Hundred and Twenty Only) per equity share of Rs. 10/- for each year 2022 on the entire issued, subscribed and paid-up share capital of 9,64,15,716 equity shares of the Company of a nominal value of Rs. 10/- each,” Nestle announced in an exchange filing today.

The company further said that the second interim dividend for the year 2022 will be paid with effect from November 16, 2022, to those members whose names appear in the register of members of the company and in the depositories as beneficial owners on the record date. For this purpose i.e. 1st November 2022.

Nestle India on Wednesday reported higher-than-expected third-quarter profit, thanks to higher prices and pick-up in demand for chocolate and packaged food in rural areas. Maggi noodles maker’s profit up 8.3% 668 crore in the quarter ended September 30, 2022 as compared to 617 crore year-on-year (YoY).

Meanwhile, its revenue from operations climbed 18.3%. Its chocolate, Maggi noodles as well as Sunrise and Nescafe brands saw a rise in sales of Rs 4,591 crore, helped by strong advertising spend. 3,882 crore a year ago.

Its earnings before interest, taxes, depreciation and amortization (EBITDA) rose nearly 7%. 1,016 crore as compared to 962 crore (YoY) on account of raw material price inflation while EBITDA margin declined by 250 bps to 22% from 22.4%.

Suresh Narayanan, Managing Director, Nestle India, said in a statement, “Growth has been very strong in large metros and large cities and continues to be strong in small town segments including rural markets.” “We are seeing early signs of stabilization in the prices of certain commodities such as edible oils and packaging materials,” Nestle said in a statement.