Nestle India declares interim dividend of ₹2.75 per share for FY25; check record date

Nestle India, in an exchange filing, announced that its board of directors at a meeting held on Monday declared an interim dividend of ₹2.75 per equity share of face value of ₹1 each, for the financial year 2024-25.

The dividend will be on the entire issued, subscribed and paid-up share capital of the company comprising 96.41 crore equity shares.

The company has also fixed the record date to determine the shareholders eligible to receive the interim dividend as July 16, 2024.

The interim dividend will be paid on and from August 6, 2024, along with the final dividend for the fifteen-month financial year ended March 31, 2024, if the proposal is approved by shareholders at the 65th annual general meeting to be held on Monday, July 8.

Nestle India had announced a final dividend of ₹8.50 per share for the financial year 2023-24. The record date for the payment of that dividend was also fixed as July 16, 2024.

The final dividend for FY24 was in addition to an interim dividend of ₹7 per share, for which the record date was February 15, 2024.

On Monday, shares of Nestle India rose as much as 1.8% to hit an intraday high of ₹2,620 on the National Stock Exchange of India (NSE). The stock closed 1% higher at ₹2600 per share. Year-to-date, Nestle India stock is down almost 5% but is up 15% in the past year.

In May, Nestle India was in focus after a majority of its shareholders voted against the proposed increase in royalty payout to its Swiss parent Nestle SA.

A month earlier, Nestle India’s board had approved raising the royalty payout to its Swiss-based parent company to 5.25% of net sales over five years from the current 4.5%.