Rs 8.50 Dividend, 1:10 Split: Large Cap FMCG Co Set To Consider Dividend On July 8

Large cap FMCG giant Nestle India Ltd shares today jumped 0.56% to settle at Rs 2539.25 per share on BSE. Today the company informed about its upcoming meetings of Board of Directors scheduled to be held as on July 8, 2024 to consider declaration of an interim dividend for the FY 2024-25 and unaudited financial results for the 1st quarter ending June 30, 2024 on July 25, 2024. Nestle India shares gained 2.64% in last 2-weeks and surged 116% in last 5-years. Check details given below:

Nestle India To Consider Results, Dividend: As per the BSE filing of Nestle India issued as on June 20, 2024, "Board of Directors of the Company to inter-alia consider: a. declaration of an interim dividend for the Financial Year 2024-25, if any, on 8th July 2024; and b. un-audited financial results for the first quarter ending 30th June 2024, on 25th July 2024.

2. Regulation 42 of the Listing Regulations - Record Date of 16th July 2024 shall also determine the entitlement of the interim dividend for the Financial Year 2024-25, if any, and date of payment of the interim dividend for the Financial Year 2024-25, in case declared, on and from 6th August 2024."

Nestle India Share Performance & Return: Nestle India shares declined 7.21% year-to-date, offered return of 10.66% in last 1-year, surged 49.68% in last 2-years, and offered return of 43.64% in last 3-years. In last 10-years, Nestle India shares zoomed 415%. The 52-week high price of Nestle India share on BSE is Rs 2770.75 per share (as on 02/01/2024) and 52-week low price is Rs 2145.28 (as on 18/08/2023), respectively.

LIC Stake: It is worth noting that Life Insurance Corporation of India (LIC) has 1.84% stake in Nestle India with 1,778,769 shares of the company.

Nestle India Revises 65th AGM Date: The exchange filing stated, "Revised date of the 65th Annual General Meeting ("65th AGM") on Monday, 8th July 2024 to be convened through Video Conferencing/ Other Audio-Visual Means (VC/ OAVM)."

Nestle India Previous Dividend: The FMCG giant recommended final dividend of Rs. 8.50/- (Eight Rupees and Fifty Paisa only) per equity shares of Re. 1/- each for the fifteen months financial year ended 31st March 2024 on the entire issued, subscribed and paid-up share capital of the Company of 964,157,160 equity shares of nominal value of Re. 1/- (Rupee one only) each."

Nestle India Dividend History: Nestle India announced 70 dividends since May 31, 2001. In last 1-year, Nestle India announced an equity dividend amounting to Rs 147.00 per share. At the current share price of Rs 2539.25, Nestle India offers a dividend yield of 5.79%. Adjusting for Bonus/Splits, dividend yield stood at 0.83%.

Should You Buy Nestle India Shares? Three leading analysts suggested buy, accumulate, and add call to Nestle India shares. According to Nirmal Bang, "We value Nestle at 60 times FY26E EPS to arrive at our target of Rs 2,550. We maintain our 'Accumulate' stance on Nestle." Axis Securities issued buy call on Nestle India with a target price of Rs 2880. On the other hand, Kotak Institutional Equities issued an 'add' call on Nestle with a target price Rs 2,550.

Nestle India Stock Split History: Nestle India split the face value of its share once since January 5, 2024. Nestle India last split the face value of its shares from Rs 10 to Re 1 in 2024.The share traded ex-split as on January 5, 2024.

Nestle India Financials: Nestle India announced revenue from operations for the quarter ended March 31, 2024 at Rs 5,268 crore, up 9% as against Rs 4830 crore announced in the year ago period. The rally is due to higher pricing along with demand for its packaged food items. Nestle declared a surge in its EBITDA by 21.8% to Rs 1,337.7 crore as compared to Rs 1,098,7 crore. The company said the EBITDA margin grew by 270 basis points (bps) to 25.4% from 22.7%, YoY.

About Nestle India: Nestle India is a subsidiary of Nestle S.A. of Switzerland. With eight factories and a large number of co-packers, Nestle India is a vibrant Company that provides consumers in India with products of global standards and is committed to long-term sustainable growth and shareholder satisfaction, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Nirmal Bang, Kotak Institutional Equities, and Axis Securities. 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.