Rs 24/Share Dividend: FMCG Giant To Hit Ex-Date In 3-Days, Buy Or Sell? Check Eligibility

Large cap FMCG giant Hindustan Unilever Ltd shares will trade ex-dividend on June 14, 2024. The Board of Directors of Hindustan Unilever on April 24, 2024 recommended a final dividend of Rs 24/share for the financial year ended March 31, 2024 on equity share of Re 1/- each. Current market price of HUL share on BSE is Rs 2555.35 per share. Hindustan Unilever Ltd share offered return of over 6% in last 2-weeks and gained over 8% in last 1-month. Jefferies sought to upgrade HUL shares to buy call and also increased target price to Rs 2,950 from Rs 2,530 earlier.

FII/FPI have decreased holdings from 13.65% to 12.67% in March 2024 quarter. Number of FII/FPI investors decreased from 2013 to 1925 in March 2024 quarter. Mutual Funds have increased holdings from 4.75% to 5.01% in March 2024 quarter. Sbi Equity Savings Fund has 1.53% stake in HUL. Check key details below:

Jefferies Recommend Buy To HUL Shares: According to the global brokerage firm, ""Surprise election outcome makes us believe that govt will likely adopt a more favourable policy towards consumption, especially rural/BOP. This comes at a time when a few cos are pointing to an expected pickup in rural, which augurs well for HUL." HUL has sharply underperformed Nifty, as it faced severe growth and margin headwinds over past few years," added Jefferies. The analyst anticipates HUL's growth in the financial year 2025 to pick up going ahead. Jefferies also upgraded HUL's earnings per share (EPS) estimates by 1-3%.

HUL Declared Rs 24/Share Dividend: As per the regulatory filing of HUL dated April 24, 2024, "recommended a final dividend of Rs. 24/- for the financial year ended 31st March, 2024 on Equity Shares of Re. 1/- each. The Company had earlier paid an interim dividend of Rs. 18/- per share on 16th November, 2023. The total dividend for the said period amounts to Rs. 42/- per Equity Share of face value of Re. 1/- each."

HUL Dividend History: Hindustan Unilever announced 50 dividends since March 27, 2001. In last 1-year, Hindustan Unilever announced an equity dividend amounting to Rs 40.00 per share. At the current share price of Rs 2555.35, Hindustan Unilever offers a dividend yield of 1.56%.

HUL Share Performance: The 52-week high price of HUL Share on BSE is Rs 2768.50 (as on 07/07/2023) and 52-week low price is Rs 2170.25 (as on 16/04/2024). Its market capitalisation stood at Rs 6,00,402.80 crore. Hindustan Unilever Ltd shares declined 3.78% year-to-date, gained 2% in last 6-months, slipped 3% in last 1-year, and offered return of 16% in last 2-years. HUL stock gained 38% in last 5-years.

How To Become Eligible For HUL Dividend? Record date remains crucial role in determining eligibility of shareholders for receiving dividend. Individuals whose name appear in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution.

HUL Q4: The FMCG giant announced a 6% fall in its standalone net profit to Rs 2406 crore for the 4th quarter ended March 31, 2024 as against Rs 2552 crore reported in the year ago period. HUL recorded a marginal surge in its revenue from operations to Rs 14,693 crore for the Q4 ended March 31 as against Rs 14,638 crore declared in the corresponding period of last year. Revenue in beauty and personal care slipped 2.7%. EBITDA for the Q4 fell 1% year-on-year to (YoY) to Rs 3,435 crore as against Rs 3,471 crore in the corresponding quarter of last year.

And, EBITDA margins contracted 30 basis points to 23.4% for Q4 ended March 31, 2024. The Company's turnover for the financial year ended 31st March, 2024 was Rs. 59,579 crores as against turnover of Rs. 58,154 crores for the financial year ended 31st March, 2023. The Profit before tax was Rs. 13,675 crores as against Rs. 13,079 crores for the corresponding year.

About: Hindustan Unilever Limited is India's largest Fast Moving Consumer Goods (FMCG) Company with a 90-year heritage in the country. It has a wide and resilient portfolio of 50+ brands, spanning 16 FMCG categories, which are a part of everyday life of millions of consumers across India. It manufactures more than 65 billion units annually, that are made available to our consumers through nine million retail outlets and many digital commerce platforms, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal, Nuvama, Kotak Institutional Equities, Elara Capital, Axis Securities, and Anand Rathi. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.