Nestle India Ltd.'s board has declared an interim dividend of Rs 2.75 per share on the company's entire paid-up share capital, which consists of nearly 96.42 crore shares for the current fiscal year.
The company will pay the interim dividend for the current fiscal year on and from Aug. 6, along with the final dividend for the 15-month financial year ended March 31, 2024, subject to shareholder approval at the 65th annual general meeting, according to the exchange filing on Monday.
Shares of the company rose as much as 1.09% to 2,602.15 apiece. Its trading 1.07% higher at Rs 2,602.15 apiece as of 10:12 a.m. This compares to a 0.07% decline in the NSE Nifty 50 Index.
The stock has risen 13.89% in the last 12 months. The relative strength index was at 60.57.
Out of 38 analysts tracking the company, 19 maintain a 'buy' rating, 15 recommend a 'hold,' and four suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.4%.
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